The government is expected to announce its annual budget, estimated expenditure, and revenue collection for the fiscal year 2021-22 in the second week of June. Thus, it shall most probably reflect an effort to counter the negative impact of the coronavirus on our economy. Businesses are continuously accruing great losses as revenue from the airline industry, public transport, hospitality, leisure, and tourism fall next to nil. As many sectors remained closed and may not be reopened over the next three- or four-month period, further taxes will only threaten the livelihood of individuals. The government should thus be mindful and take precautions to avoid furthering the economic catastrophe which looms over us.

Source: Pakistan Today May 16, 2021 17:26 UTC