In a country where reforms in the tax system merely imply wasting millions of dollars on physical face-lifting rather than qualitative improvement, raising standards of competence, eliminating corruption and removing public trust deficit; undoubtedly governments are faced with plummeting revenue collection, massive tax evasion and enormous levels of tax gaps. Consequently, despite an atmosphere of apparent urban affluence, the country has become entangled in heavy internal and external debts that are steadily increasing day by day. Over the last two decades, we have been vehemently trying to highlight these crucial issues in various articles appearing regularly in many periodicals, hoping to draw the government’s attention for taking concrete measures before its too late. Unfortunately, our pleas are constantly falling on deaf ears, there being no effect on policy makers to address these matters on war footing and devise adequate strategies for solving the enigma of taxation.