Govt slashes development budget by Rs100bn for next fiscal year

(Web Desk): Federal Minister for Planning Ahsan Iqbal has stated that the development budget for the upcoming fiscal year will be Rs100 billion less than the current year.

During a meeting of the Annual Plan Coordination Committee chaired by Ahsan Iqbal, proposals were presented for the next fiscal year, including setting a GDP growth target of 4.2%, an agricultural growth target of 4.5%, a livestock sector growth target of 4.2%, and an industrial sector growth target of 4.3%.

On the occasion, Ahsan Iqbal said that Rs1,000 billion will be allocated for the development budget in the upcoming fiscal year, with Rs250 billion allocated specifically for Balochistan. He noted that this amount is Rs100 billion less than the current year's development allocation.

He further stated that projects of national importance, especially water-related projects, will be prioritized. In light of threats from India, he emphasized the urgent need to complete the Diamer-Bhasha Dam. Funds will also be allocated for Phase II of the Karakoram Highway, the construction of the N-25 Karachi-Quetta-Chaman highway, and the Hyderabad-Sukkur Motorway, all of which are among the government's key priorities.