Daily Times

ISLAMABAD: The Federal Government has slashed development budget by Rs 113 billion in the current financial year 2015-16 as out of Rs 1340 billion allocated only Rs 1227 billion were releaded while for upcoming fiscal year 2016-17 government has increased the development budget by Rs 165 billion.

The government has proposed allocation of Rs 1675 billion for the national development projects in upcoming fiscal year. In the next financial year 2016-17, the government has increased Rs 100 billion in the federal development budget and Rs 61 billion for the provincial development budget as compared to current financial year.

The provinces would get Rs 875 billion for development projects in the next fiscal year 2016-17 out of which Punjab would Rs 460 billion, Sindh’s share would be Rs 211billion. Khyber Pakhtunkhwa would obtain Rs 143 billion while Balochistan would acquire least funds of Rs 61 billion for the development projects.

Daily Times got the documents revealing that Rs 75 billion are enhanced for the sector wise allocation Rs 25 billion would be increased for special programmes in the next fiscal year.

A sum of Rs 700 billion were earmarked for Public Sector Development Programme (PSDP) in the current financial year whereas with the increase of Rs 100 billion, the PSDP budget would be Rs 800 billion in the next fiscal year.

In the special programmes Rs 100 billion has been allocated for the Social Development of the temporary displaced person (TDPs), Rs 20 billion were allocated for Prime Minister’s Youth Programme.

In the next fiscal year Rs 25 billion would be reserved for gas infra structure development fund while Rs157 billion for development of power infra structure, Rs 260 billion were allocated for transport and communication, Rs 33 billion for the water development projects and Rs 18 billion for the physical planning and housing.

In the PSDP budget Rs 29 billion were allocated for education and HEC, Rs 30 billion for health and population funds. Science and information technology would get Rs 9 billion and governance fund has been increased from Rs 6 billion to Rs 8 billion. The federal grants for Gilgit Baltistan and AJK would be Rs 42 billion in the next fiscal year. Rs 2 billion each are allocated for the industrial production and food and agriculture.

Some Rs 7 billion are earmarked for ERRA, while the matching grant for the special federal development fund would be Rs 28 billion in the upcoming budget.

The target of collection of the revenue for WAPDA and NTC has been increased from Rs 175 billion to Rs 250 billion in the budget of next fiscal year 2016-17.