Following the gloomy indicators that emerged in the Pakistan Economic Survey for the outgoing fiscal year, the country braces itself for what could be the most austere budget in history. The tax-laden budget that also brings massive cuts in the development expenditure is far from one that would help achieve the 4% economic growth target for the next year. The budget for fiscal year 2019-20 is more likely to be focused on curtailing the twin deficits; fiscal and current account, which may be met with disappointment by a hefty segment of the population. In a nutshell, the PTI government aims to achieve the ambitious tax revenue collection target of Rs5.55 trillion – over 40% higher than the collection expected in the outgoing fiscal year 2019. Budget to focus on strict fiscal disciplineWatch this space for live updates…Read full story

Source: The Express Tribune June 11, 2019 09:56 UTC