Pakistan Proposes Budget to Boost Growth as Pandemic Recedes

June 11, 2021, 2:35 PM

Pakistan plans to spend its way out of the pandemic-induced slump, with a new budget that seeks to put more money in the hands of people and boost economic activity.

The federal government proposes to raise salaries of government employees by 10% in the year beginning July 1, Finance Minister Shaukat Tarin said in his budget speech in Islamabad on Friday. Taxes on some equity as well as banking transactions will be pared or abolished, he said.

The giveaways notwithstanding, Tarin targets to narrow the budget gap to 6.3% of gross domestic product from 7.1% of GDP this year, less ...

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