Islamabad: The government has set PKR 650 billion – including foreign assistance worth PKR 72.5 billion – for development projects under the Public Sector Development Programme (PSDP) 2020-21, according to news sources.
This budget highlights the importance of public investment to create employment opportunities, revive the economy and alleviate poverty in the aftermath of coronavirus pandemic that has put the economic wheel to a halt.
This year’s PSDP focuses on completion of existing projects, provision of funds to cover foreign-funded projects and to support initiatives under the China-Pakistan Economic Corridor (CPEC). Moreover, PSDP FY 2020-21 seeks to innovate financing modes to reduce burden on the national economy and to address the needs of the less developed areas to promote regional balanced development.
To mitigate the COVID-19 impact, a special programme will be launched to a tune of PKR 70 billion – with a focus on education, Upgradation of existing health services, sewerage, solid waste management, and clean drinking water provision.
An amount of PKR 179 billion has been allocated to meet minimum requirements for CPEC and other priority projects of communication and transport sector. In PSDP 2020-21, special interventions have been made for less developed areas of Balochistan, merged districts of Khyber Pakhtunkhwa and Gilgit-Baltistan.
For the power and water sector projects, funds of worth PKR 80 billion and 70 billion have been earmarked. An amount of PKR 12 billion has been allocated for food security and agriculture. The climate change ministry is to receive PKR 5 billion with special focus on the first phase of ‘Ten Billion Tree Tsunami Programme’. Furthermore, the government has earmarked PKR 24 billion for special programmes, with a special focus on the Sustainable Development Goals (SDG).
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