Cash-strapped Pakistani government proposes budget, complete with funds to fight climate change
Pakistan’s cash-strapped government has presented its draft for the national budget, allocating funds to fight climate change despite staggering $30 billion in losses from last summer’s devastating floods
ISLAMABAD (AP) — Pakistan’s cash-strapped government on Friday presented its draft for the national budget, allocating funds to fight climate change despite staggering $30 billion in losses from last summer's devastating floods.
Lawmakers are expected to approve the proposal by the end of the month, after a clause-by-clause discussion.
Prime Minister Shahbaz Sharif's government, which succeeded that of former Premier Imran Khan, has struggled with an unprecedented economic downturn since taking over last year. Meanwhile, talks with the International Monetary Fund for the revival of the $6 billion bailout package have been on the hold since December.
The draft budget envisages $940 billion for the next fiscal year, starting July 1, a significant increase from last year's budget of $786 billion.
