KARACHI - The governments resolve to broaden tax net will not work as far as tax-exempted sectors offers safe heavens to people who want to hide their income from being taxed, the Pakistan Economy Watch (PEW) said on Thursday. Conflicting polices will never pay dividends, and efforts to promote tax culture in country will prove futile until all major sectors are taxed properly to stop evasions and eliminate unwanted tax shelters, it was further. Money will continue to flow towards agriculture, stock markets and reality hurting industrial growth unless these sectors are taxed appropriately, therefore, the state must plug loopholes, said Dr Murtaza Mughal, president PEW. Many industrialists hide their financial gains from being taxed by showing it as agricultural income as the trend is gaining momentum, he said. He further said that our system is promoting tax culture as well as tax evasion at the same time, while people hide billions each year from being taxed which is blocking prosperity and keeping us dependent on untrustworthy foreign sources. Proper taxation of holy cows will save us some 400 billion rupees per annum, which will reduce dependence and trigger long-awaited prosperity, he added. Large chunks of capital have started flowing towards agriculture which has raised concerns. Agriculture contributes around 25 percent of GDP while it returns only a billion in form of taxes which isnt acceptable. Why other underperforming sectors continue to bear the burden of wealthy agriculturists, he questioned. Tax to GDP ratio has witnessed a fall and it will continue to slide until contradictory policies are set aside.