ISLAMABAD (Reuters) - Pakistan said on Friday it expected economic growth of 6.2 percent as it announced a 2018/19 budget ahead of national elections expected in July.
Newly appointed Finance Minister Miftah Ismail announced the annual budget, while the opposition called for a budget covering only the remaining two months of the federal government’s tenure.
Here are the highlights of the budget from the official federal budget document for the fiscal year starting on July 1.
GDP growth in 2018/19 growth seen at 6.2 percent.
Finance minister Ismail said, “We have taken GDP to 5.8 percent. This progress we have made. We will not interrupt it, but the incoming government will have the right to modify the budget.”
2018/19 fiscal deficit seen at 4.9 percent of GDP.
Total expenditure for 2018/19 seen at 5.9 trillion rupees ($51 billion)
Two main opposition parties said it is improper to make a full-year budget with just months to go before the elections.
Budget estimates tax revenue of 4.9 trillion rupees.
Minister Ismail said the government is using data mining and other technologies to track tax evaders.
Government to spend on a large-scale desalination plant in Karachi city to end the city’s water woes.
Loans to the agriculture sector to increase.
Package for children’s health announced.
Government to pay for the transportation of female students to school.
($1 = 115.79 Pakistani rupees)
Reporting by Islamabad bureau, Compiled by Rupam Jain, Editing by Hugh Lawson