ISLAMABAD: The volume of the Public Sector Development Programme (PSDP) is likely to increase by up to Rs700 billion in the upcoming budget for the next fiscal year 2022–23, which will increase development opportunities in the country, announced Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal.

Addressing a press conference on Friday, he said: ” the efforts will be made to raise up to Rs200 billion more through the public-private partnership, which will accelerate development projects.”

He said that, in total, 44% of the PSDP projects are provincial projects and the remaining 46% are federal projects. “We had taken PSDP to Rs1,000 billion during the previous tenure of the PML-N government. However, the former PTI-led government had brought it to Rs500 billion, and we wanted to take it to Rs2,000 billion,” he said.

Labourers work on a building construction site in Karachi, Pakistan February 25, 2016. — Reuters/File

He further added that the government would work mostly on youth issues, water scarcity and other issues that are very important for the sustainable economic development of the country. 

The minister said there was no progress on the projects of the China-Pakistan Economic Corridor (CPEC) in the previous regime, adding that only a few of these projects started during our tenure.

He said the work on the nine Special Economic Zones (SEZs) of CPEC was to be completed by 2020, but not a single SEZ was completed by the PTI government. The planning minister said that Chinese industrial relocation was possible only with the completion of these nine CPEC SEZs, which has not happened.

He said the Chinese government was more interested in the Hattar Special Economic Zone (SEZ) project, but the Khyber Pakhtunkhwa government decided to transfer the project to the Rashakai SEZ. “Now the government is trying to include Hattar SEZ also,” he added.

By adminmy

Leave a Reply

Your email address will not be published.