The COVID-19 pandemic has spread with alarming speed, infecting millions and bringing economic activity to a near-standstill. As a result many emerging and developing economies were already experiencing weaker growth before the crisis; the shock of pandemic now makes these economies face the challenges even harder. The pandemic will leave the world deep in debt. The lower and middle class of the country was already miserable because of the poor performing economy and the arrival of COVID-19 brought further serious blows to the manufacturers, traders, retailers, importers and exporters and business community at large and they began to face huge financial losses.
As a calibrated and fine tuned economic policy is imperative to be devised and the Government seems to have failed to give an effective response to the present challenge of the pandemic, I along with my Economic Team wish to contribute and submit some Budgetary Proposals to the Government for incorporation in the Federal Budget 2020-21.
These budgetary proposals, if adopted and implemented may prove beneficial to the people at large and resulting in alleviating the poverty and economic ailment which has affected social fabric of the society and has caused infinite harm.
The economic landscape is hard to navigate with all the economic land mines laid down by the perpetrators of the status quo for the last 70 years, thus slipping Pakistan into an abyss of low growth trap. Unfortunately during the last two years, the present government also has not succeeded in fixing these chronic ailments.
I think the time has come to implement the much awaited reforms, my proposals are a guide in this regard.
