Govt to enhance development budget in upcoming fiscal year: Planning Minister
Ahsan Iqbal says social sector is being given importance in the development budget.
Planning Minister Ahsan Iqbal says a record 2.5 trillion rupees Public Sector Development Programme for next financial year has been approved.
He was addressing a news conference after a meeting of National Economic Council in Islamabad.
He said the new budget includes 1001 billion rupees Federal Public Sector Development Programme, 1112 billion rupees provincial PSDP while 400 billion rupees would be spent by various corporations to carry out their development projects.
Ahsan Iqbal said 411 billion rupees would be spent on infrastructure development, 43 billion for different projects of Railways, 404 billion for energy while 180 billion rupees on projects under China Pakistan Economic Corridor.
The Planning Minister said that the Prime Minister during the NEC meeting directed for devising a mechanism for providing more funds to AJK, Gilgit-Baltistan and FATA.
Ahsan Iqbal said the social sector is being given importance in the development budget, financing for which has been increased from 90 billion to 153 billion rupees.
He said that in order to promote higher education, the budget for Higher Education Commission has been increased from 21 billion to over 35 billion rupees.
He said that seventeen billion rupees has been specifically approved for Balochistan to improve communication system and for different water related projects.