Pakistan, June 12 -- The government on Tuesday presented its first budget with total the outlay of Rs 7.022 trillion for the fiscal year 2019-20, registering growth of 30% against the revised budget of Rs 5.385 trillion for the current fiscal year 2018-19 and setting an ambitious Rs 5,555 billion target for the FBR - a 25 percent increase or Rs 1.12 trillion in additional taxes from the previous year.

State Minister for Revenues Hammad Azhar presented the budget in the National Assembly, amid strong protest by the opposition parties. The minister said that total federal revenues had been estimated at Rs 6.717 trillion, which was 19 percent higher than the previous year's revenues of Rs 5.661 trillion. The collection of revenue by the Fed...