Planning Ministry Demands Over Rs. 2.4 Trillion For PSDP Projects in New Budget

The Annual Plan Coordination Committee (APCC) will convene on May 31 (Friday) to approve the annual macroeconomic plan and development program. The Ministry of Planning has prepared two proposals for the Public Sector Development Program (PSDP), prominent sources told ProPakistani. The Planning Ministry has sought an aggregate funding demand of Rs. 2,441 billion for 1,370 development projects. The first proposal seeks Rs. 1,172 billion for 248 projects, while the second proposal has earmarked Rs. 1,500 billion for 628 projects. Sources said priority will be given to completing 80 percent of the pending projects, with resources allocated accordingly. There is also a proposal to allocate Rs. 71 billion for new development projects and Rs. 328 billion for ongoing projects. An estimated Rs. 200 billion is expected to come from public-private partnerships. There is a plan to spend Rs. 769 billion on foreign-funded projects. Here’s the full list of PSDP proposals and the required funds in the upcoming budget:   The Ministry of Finance will allocate the development budget based on the country’s financial capacity. The proposal includes setting the GDP growth target at 3.7 percent for the next financial year and an inflation target of 11.8 percent. The APCC will also approve the National Development Outlay during the meeting, sources added.