FEBR demands growth-friendly policies as fiscal deficit rises.

Islamabad -- Friends of Business and Economic Reforms on Sunday sought long-term measures amidst high cost of debt servicing due to heavy loans, as the fiscal deficit has jumped to around Rs1.5 trillion in first half of 2020-21.

FEBR President Kashif Anwar sought growth-friendly policies, upgraded tax and social spending and active industrial strategies in close consultation with real stakeholders to achieve sustainable development goals.

Kashif said that in terms of size of the economy, the budget deficit remained at last year's level but in absolute terms the deficit went up. The government had set the federal budget deficit target at 7.5% of GDP while it has obtained Rs1.2 trillion in loans to finance the deficit.

FEBR President further that the fiscal deficit is going up despite...