Proposal to allocate 2709 billion rupees to the development budget of the federation and provinces
Islamabad (Sabah News)
It has been proposed to allocate 2709 billion rupees for the development budget of the federation and the provinces for the next financial year 2024-25. A meeting of the annual plan coordination committee was held for the upcoming budget, which was chaired by the deputy chairman. The planning commission was done by Jahanzeb Khan. Representatives of Azad Kashmir and Gilgit-Baltistan including the Ministry of Finance, State Bank officials, provincial governments also participated in the meeting. In the meeting, 1221 billion rupees were allocated for PSDP, 877 billion rupees for infrastructure, and for energy development programs. It is proposed to allocate 378 billion rupees, 173 billion rupees for transport and communication, 284 billion rupees for water resources and 42 billion rupees for physical planning and housing. The Planning Commission has allocated a total of 83 billion rupees for the social sector. It has proposed to allocate Rs.17 billion for health and Rs.32 billion for education while not allocating any budget for SDGs, Rs.51 billion for Azad Jammu and Kashmir and Gilgit-Baltistan and merged districts. It is proposed to allocate 57 billion rupees. 104 billion rupees for science and technology, 21 billion rupees for production sector, 14 billion rupees for food and agriculture and 7 billion rupees for industries. Planning According to the Commission’s document, the GDP growth for the next fiscal year was estimated at 3.6 percent, the current fiscal year GDP growth was recorded at 2.4 percent, while the target of 3.5 percent GDP growth could not be achieved. The growth target is 2.0 percent, the industrial sector growth target is 4.4 percent, the services sector growth target is 4.1 percent, the livestock production target is 3.8 percent, the fisheries production target is 3.2 percent and the forestry production target is 3.1 percent. It is proposed to keep the production growth for the manufacturing sector at 4.4 percent while the growth target for large scale manufacturing is proposed to be 3.5 percent and for small and household production target is proposed to be set at 8.2 percent.