- Only key projects that will have priority due to limited funds, explains Iqbal.
- The objective of exports for the next year has set for $ 35 billion, explains the minister.
- Said RS150BN allocated to the social sector in the next budget.
The Minister of Planning and Development, Ahsan Iqbal, said on Monday that more than 118 different projects worth 1,000 billion rupees had been abandoned due to limited resources.
During its interaction with the media following the annual meeting of the plan coordination committee (APCC) in Islamabad, Iqbal said: “Today, (we) must make difficult decisions concerning the limitation of current projects.”
He said it was difficult to welcome projects from all ministries in a limited budget of RS1,000 billion.
“Now we have to make decisions in the national interest,” added Iqbal.
Only key projects can be hierarchical due to limited funds, said the Minister of Planning, adding that provincial level projects should now be completed by the provinces themselves.
“The provinces have many more resources than the Federation,” he added. The minister said that everyone should play their role in national development.
In light on the upcoming budget, the minister said that the economic objective for next year had been set at Rs129 Billion.
“This year’s development budget has been set at 1,000 billion rupees,” he added.
The minister said that RS150BN had been allocated to the social sector and 70 billion rupees for the KP merged districts in the next budget.
“The GDP growth objective for the next fiscal year has been set at 4.2%,” said Iqbal, adding that the export objective was set at $ 35 billion.
Earlier, by giving an annual PSDP plan for the next financial year at the APCC meeting, he said that the budgetary space will be provided in the next PSDP for strategic importance projects envisaged under Uraan Pakistan.
He mentioned that these projects include the Diamer Bhasha dam, the Sukkur Hyderabad motorway project, the N-25 in Balutchistan and the phase of Karakoram Highway.
The Minister underlined the need for greater synergy between the center’s development projects and the provinces for the early completion of national priority projects.
Iqbal said that projects with a foreign component and those who ended up completion have also been a priority in the PSDP.
The Minister explained that said allowances to special regions such as AJK, Gilgit-Baltistan and tribal districts have also been priority.
The Minister also declared that an effort had been made to align the development budget with national priorities while remaining in limited resources.