Pakistan Cuts Taxes, Raises Salaries Risking Deficit Target

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Pakistan Cuts Taxes, Raises Salaries Risking Deficit Target

Bloomberg – Pakistan cut taxes and raised government salaries in an election-year budget that risks missing a target to narrow the deficit from a three-year high. The government pledged to narrow the budget gap to 4.7 percent of gross domestic product in the year ending June 30, 2013 from 7.4 percent of GDP in the previous 12 months, Finance Minister Abdul Hafeez Shaikh said in his budget speech in Islamabad yesterday. Read Article

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