Govt Unveils Rs 3.792 Trillion National Development Budget

Govt unveils Rs 3.792 trillion national development budget

Pursuing an approach of balanced development across the country, the Federal Government on Wednesday unveiled a Rs 3.792 trillion national development budget for the fiscal year 2024-25, including the Federal Public Sector Development Program (PSDP) of Rs1,500 billion, Provincial Annual Development Plan of Rs 2.095 trillion and SOEs investment of Rs196.9 billion

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Jun, 2024) Pursuing an approach of balanced development across the country, the Federal Government on Wednesday unveiled a Rs 3.792 trillion national development budget for the fiscal year 2024-25, including the Federal Public Sector Development Program (PSDP) of Rs1,500 billion, Provincial Annual Development Plan of Rs 2.095 trillion and SOEs investment of Rs196.9 billion.

The major chunk of PSDP 2024-25 was earmarked on infrastructure development projects of energy, railway, motorways-highways, aviation and ports, besides equal importance given to the social sector, particularly in higher education, health, governance and climate changes.

Meanwhile, out of a total Rs1.5 trillion federal PSDP, the government allocated Rs 1,400 billion for federal ministries, Rs 354.223 billion for corporations, including National Highways Authority (Rs 180.284 billion) and PEPCO (Rs 175.939 billion), and Rs 100 billion for VGF for Public Private Partnership (PPP) projects.

The government earmarked Rs 259.598 billion for the Water Resource Division, Rs 7.302 billion for the Aviation Division, Rs 1.658 billion for the board of Investment, Rs 75.773 billion for the Cabinet Division, Rs 6.256 billion for Climate Change Division, Rs2.205 billion for Commerce Division, Rs728 million for Communication Division (other than NHA), Rs 5.636 billion for Defence Division, and Rs 3.767 billion for Defence Production Division.

Likewise, Rs 921 million was allocated for Establishment Division, Rs 25.751 billion for Federal Education and Professional Training Division, Rs 6.

084 billion for Finance Division, Rs 66.315 billion for Higher Education Commission, Rs 27.688 billion for Housing and Works Division, Rs104 million for Human Rights Division, Rs 4.918 billion for Industries and Production Division, Rs6.550 billion for Information and Broadcasting Division and Rs 28.929 billion for Information Technology and Telecom Division.

Similarly, an amount of Rs 3.650 billion was earmarked for Inter-provincial Coordination Division, Rs 9.070 billion for Interior Division, Rs 1.230 billion for Law and Justice Division, Rs 5.300 billion for Maritime Affairs Division, Rs 169 million for Narcotics Control Division, Rs41.250 billion for National food Security and Research Division, Rs 27.00 billion for National Health Services Regulations and Coordination Division, Rs 1.015bmillion for National Culture and Literary Heritage Division, and Rs 25.00 billion for Pakistan Atomic Energy Commission.

The government also allocated Rs 256.330 million for Pakistan Nuclear Regulatory Authority, Rs 3.225 billion for Petroleum Division, Rs 59.114 billion for Planning, Development and Reform Division, Rs 45 billion for Railways Division, Rs 500 million for Religious Affairs and Interfaith Harmony Division, Rs 17.696 billion for Revenue Division, Rs 7.149 billion for Science and Technological Research Division, and Rs 35.617 billion for SUPPARCO.

The document revealed that to augment PSDP, resources of the private sector would be leveraged with the help of the Public Private Partnership Authority (PPA), attracting domestic and foreign direct investment in commercially viable projects.