Source: ET
ISLAMABAD: Federal Finance Minister Ishaq Dar presented the federal budget for the year 2013-2014 in the National Assembly on Wednesday, Express News reported.
The first litmus test of the newly sworn-in government began when Dar presented a Rs3.5 trillion federal budget in a bid to revive the country’s ailing economy. Designed to target an estimated growth rate of 4.4% over the next fiscal year, the budget would seek to reduce non-development expenditures and fix a burgeoning energy crisis that has been costing the country 2% of gross domestic product annually.
Finance minister Ishaq Dar told the national assembly that the government would clear $5 billion in circular debt from the energy sector within the next 60 days.