Pakistan budget raises defence spending, targets higher tax revenue
Pakistan has unveiled its national budget, raising defence spending and setting a steep tax collection target. Authorities said the plan will help achieve 4% growth in the next fiscal year and keep the nation's US$7-billion IMF loan programme on track. Meanwhile, the government also reduced income tax rates for the salaried class and abolished an additional surcharge on higher-income earners. Economists said the measures could ease pressure on households, after inflation returned to double digits in recent months. Hira Mustafa reports from Islamabad.
Pakistan has unveiled its national budget, raising defence spending and setting a steep tax collection target. Authorities said the plan will help achieve 4% growth in the next fiscal year and keep the nation's US$7-billion IMF loan programme on track. Meanwhile, the government also reduced income tax rates for the salaried class and abolished an additional surcharge on higher-income earners. Economists said the measures could ease pressure on households, after inflation returned to double digits in recent months. Hira Mustafa reports from Islamabad.
Popular Shows
