Abstract:
Globally infrastructure is considered to be the back bone of an economy. There is no rigid definition of infrastructure which may be acceptable for all countries, irrespective of its strength of economy; however every country defines it as per its own needs and financial strength. There are few commonalities which makes a threshold to define infrastructure for every nation, which may include the essentials i.e. roads, bridges , railways, irrigation, power, dry ports, sea ports, water supply, sewerage system, disposal of waste, public transit system. In brief the infrastructure constitutes the public services for which government is suppose to be responsible for its construction, serviceability, maintenance and repair.
Soon after the capitalism appeared on the economic canvas, the governments are facing gradual fiscal deficits with volume of parallel economy gradually increasing. The black money which constitutes the parallel economy was born at the same day at which “tax” was born. The money which entered into the tax circle was declared as the white money and the money outside the tax circle was declared as the black money. Once entered into the stream of black money, capital do not find it way back to main stream economy powered by the white money. Economists all over the world have researched enough on this subject and calculated the volume of parallel economy, mostly in the terms of percentage of GDP. The same efforts have also been done by Pakistani economists and have obtained various results, out of which; the volume of black money in Pakistan is more than 50 percent of the GDP i.e. about 12.78 trillion Pak Rupees.
