ISLAMABAD : June 6,2023: The National Economic Council (NEC) on Tuesday approved a Rs 2709 billion Public Sector Development Programme (PSDP) for 2023-24.
Prime minister , Shahbaz Sharif , chaired NEC meeting held here.
The approved PSDP for 2023-24 is 17 % more than the last year’s PSDP
Pakistan ‘s economic growth had gone down to almost zero in the outgoing fiscal year as its financial crisis had hit it in worst form , bringing its pace of progress to a grinding halt . According to the official figures, Pakistan’s PSDP utilisation in 2022-23 remained at only Rs 374 billion which made only 43% of total size of PSDP of Rs 721 billion.
However , the increased size of PSDP for 2023-24 suggests the government is going to make upcoming fiscal year an year of elections in Pakistan .
The federal government share in PSDP for 2024 stands at Rs 1150 billion. It also includes Public Private Partnership
(PPP) allocation of Rs 200 billion.
The provinces share in PSDP 2023 -24 is Rs 1559 billion. Sindh has major share of Rs 617 billion in 2023-24 PSDP.
Balochistan to share Rs 248 billion.Punjab will share Rs 428 billion PSDP for 4 months
Khyber Pukhtunkhaw (KPK) has share of Rs 278 billion.
The government plans to complete 1182 schemes in 2023-24. The plan includes 311 new and 871 old schemes.
The ministries / divisions proposed share in PSDP is Rs 485 billion.Rs 215 billion have been proposed for corporations .PM Programme to get Rs 80 billion.
Information and Broadcasting to get Rs 2 billion.Maritime Division to get Rs 3.30 billion
Health sector to get Rs 10.13 billion, Petroleum sector Rs 1.50 billion
Education Rs 8.50 billion.
AJK , Gilgit Baltistan to get Rs 61 billion.
Gawdar -Ruto Dero road is one of the major development schemes . Its going to get Rs 70 billion in 2023-24.
Rawalpindi-Kahota Road allocation is Rs 2 billion
Addressing NEC meeting , prime minister, Shahbaz Sharif, said his government’s top priority is economic progress of Pakistan. He noted that a base has been set for a green revolution in Pakistan.. He maintained that the govt intends to invest in health , technology and education sectors to expedite pace of Pakistan’s economic progress.
NEC also approved Pakistan Economic Outlook 2035. The Planning Commission had presented Pakistan Outlook 2035 for approval.
The government is also focusing on flood- hit areas. Pakistan’ major funding agencies the Asian Development Bank (ADB) and the World Bank (WB) are funding the projects aimed at rehabilitation of flood -hit areas in Balochistan.