The Public Sector Development Programme‚ worth Rs1‚155 billion is aimed at ensuring higher growth rate and achieving sectoral targets taking into consideration.
“This includes Rs540 billion development programme for the federal government and Rs615 billion for the provinces” said he while delivering the budget speech for the fiscal year 2013-14.
Under the PSDP‚ an allocation of Rs107 billion has been made for energy sector.
WAPDA will invest Rs118 billion on electricity development projects in addition to Rs225 billion private sector investment in this sector.
In the communication sector‚ Rs105 billion have been allocated including Rs63 billion for National Highway Authority and Rs31 billion for Railway.
An amount of Rs59 billion has been set aside for the construction of new water reservoirs.
The allocation of Rs25 billion for education sector development programme is in addition to over Rs18 billion for Higher Education Commission‚ over Rs2 billion for science and technology and Rs10 billion for Earthquake Rehabilitation Authority.
Under new PSDP‚ Rs25 billion have been allocated for National Health Services. Rs5 billion have been earmarked for development activities under Tameer-e-Pakistan Programme.
Similarly‚ Rs43 billion will be provided for development activities in Azad Jammu and Kashmir‚ Gilgit-Baltistan and Tribal Areas.
Under the PSDP‚ 115 new development projects will be launched in various sectors during the next financial year.
The GDP growth rate for the next financial year has been set at 4.4 percent with the contribution from agriculture 3.7‚ industry 4.8 and services 4.5 percent.
Gross National Product has been targeted at a growth rate of 12.8 percent while per capita income is projected at Rs146‚445.
Efforts will be made to control inflation rate and the current level of investment will be enhance from 14.2 to 15.1 percent of GDP.
With gradual improvement in the security environment and power generation foreign direct investment is expected to increase up to 13.3 percent and national savings up to 14 percent of GDP.
The strategy of monetary policy during the next financial year will be to ensure price stability and provide support to economic growth by improving implementation monetary policy and operation framework.
Similarly balance of payment in trade is also expected to improve due to better availability of energy supply coupled with high targets set in strategic trade policy framework.
Exports have been projected to grow by 5 percent up to $26.6 billion and imports to increase by 7.1 percent up to $43.3 billion. Therefore‚ trade deficit has been projected by $16.7 billion. (PPI)