About the fiscal budget.

About the fiscal budget, the prime minister appreciated his economic team by saying that presentation of budget in the wake of COVID-19 pandemic was the most difficult task.

The revenue collection, which was set as about Rs 4,900 billion, had been reduced to Rs 3,900 billion due to the effects of lockdown, he said and warned that they were not out of the woods yet, because no country in the world could predict the exact negative impacts of the coronavirus pandemic.

Mentioning the impacts of lockdown, he said the provinces enjoyed autonomy after the adoption of 18th Constitutional Amendment, but in case they had sought his approval for a complete lockdown like in Sindh province, he would not have surely acceded to it.

After witnessing the lockdowns in Europe and in the Chinese city of Wuhan, such a lockdown was enforced in Sindh affecting daily wagers and labourers, he added.

He said Pakistan with 80 per cent informal economy could not afford such lockdowns. The tourism industry got a major hit, besides small private schools in villages where the teachers had not been getting salaries for months.

The prime minister also defended his stance over smart lockdown, which, he said, was the only option to face the pandemic and economic hardships.

He also appreciated his Special Assistant Dr Sania Nishtar and his team for distribution of huge amounts under the flagship Ehsaas programme in the shortest time and in a most transparent manner.

Terming the generation of revenues another huge challenge, Imran Khan said they could not predict when the tax collection would surge, and quoted Charles Dickens that it could be the best of times.

The prime minister also stressed upon introduction of reforms in the government-owned bleeding and loss making entities and corporations, including the Pakistan Steel Mills (PSM) and the Pakistan International Airlines.

He also termed the accumulation of power sector circular debt a huge liability inherited from the past regimes.

He said all the entities required drastic changes and reforms, and indicated that the government was ready for such changes.

Those elements would resist such steps, who had been taking advantage from the status quo and corruption, he said and cited the PIA, which had been once a pride of the nation but...