business

May 8, 2021

Plans afoot to boost infrastructure spending by 40pc

ISLAMABAD: Pakistan plans to boost spending on large infrastructure projects by as much as 40 percent to create jobs and foster productivity in an economy crippled by the coronavirus pandemic, Finance Minister Shaukat Tarin told Bloomberg.The federal government will earmark as much as 900 billion rupees for development expenditure in the year beginning July, Tarin, who took office last month, said in an interview. The economy needs to expand by 5 percent next year, he said. “That’s the...