ISLAMABAD: A day after presenting the federal budget, Finance Minister Ishaq Dar is addressing the post-budget press conference in the federal capital.
The cash-strapped government unveiled a budget of 14.5 trillion rupees (about $50.5 billion) on Friday, with more than half earmarked for borrowing 7.3 trillion rupees.
The economy has been hit by a balance-of-payments crisis as it tries to service crippling external debt, while months of political chaos have stifled potential foreign investment.
About 950 billion rupees were earmarked for development projects voted ahead of general elections later this year, while other public measures included a 35 percent hike in civil service salaries and a 17.5 percent hike in state pensions. included.
Presenting the budget in the National Assembly, the finance minister insisted that the targets were prudent.
