KARACHI: Moody’s rating agency in a report released on Thursday said the government’s recently announced mini-budget supports manufacturing sector and exports. However, it will enhance the challenges of fiscal consolidation for the government, the report said. Moody’s report said that the fresh budget measures would support manufacturing sector, fostering exports and import substitution, help narrow current account deficit. Finance Minister Asad Umar, on January 23, announced the government’s second mini-budget, which largely focuses on revenue-based measures to improve supply-side conditions for businesses and incentivise domestic reinvestment. The report said in the absence of new spending cuts or revenue-raising measures, however, these measures will keep Pakistan’s budget deficits wider for longer, potentially eroding the credibility of government efforts to achieve fiscal consolidation. The government’s this mini-budget aims to improve business conditions, including for manu...