Islamabad: The Federal Board of Revenue (FBR) estimates a loss of more than Rs 300 billion during the April-June quarter of this fiscal year due to a slowdown in economic activity in the wake of a Corona virus.
At a time when the government is struggling to control the spread of the virus, top FBR officials are examining the impact of the Corona virus on revenue collection with various sectors.
An official said the revenue was good so far in March, but the lockdown or shutdown would have a significant impact on revenue.
He said that in the petroleum sector, one of the major revenue sectors, his consumption was seen to drop by more than 20%, inter-city transport was almost suspended, and the purchase of luxury goods also saw an abnormal decline.
The FBR fears that multinationals and other large companies may also reduce their trading activities, which will result in significant revenue cuts.
FBR sources said we were watching closely all of these developments