Islamabad: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said on Thursday (June 2) that the government will allocate PKR 700 billion for the Public Sector Development Program (PSDP) in the fiscal year 2022–23 (FY23), news sources reported. He said that, in total, 44% of PSDP projects are provincial projects and the remaining 46% are federal projects.
The minister stated that the government’s major PSDP priorities of FY23 will be to increase spending on youth, developing infrastructure, and water scarcity. Furthermore, he stated that the government will generate an additional PKR 200 billion for PSDP through public-private partnerships (PPP) in order to fund further development projects.
In addition to the nine economic zones under CPEC, he said that the government will include the Hattar Special Economic Zone project in the CPEC project once again.
It is important to mention here that the government has reduced the development budget amid economic stress and increasing inflation and the global market changes.
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