Pakistan allocates 40% of budget to tackle debt

Pakistan’s finance minister Miftah Ismail (AFP)

ISLAMABAD: Pakistan’s new government, grappling with soaring inflation and political unrest, unveiled a 9.5 trillion rupee ($47 billion) budget Friday, earmarking more than 40 per cent to service the country’s massive foreign and domestic debt.
Prime Minister Shehbaz Sharif blames Pakistan’s economic woes on his predecessor Imran Khan, who was ousted by a parliamentary vote of no confidence in April and is fomenting a national campaign to press…