The finance ministry Wednesday proposed to deduct Rs27 billion from the development budget of the new financial year of 2023-24, reported 24NewsHD TV channel.
As per the finance ministry sources, the development budget of Rs700 billion instead of Rs727 billion has been proposed for the new financial year.
The finance ministry has released the budget ceiling for the Public Sector Development Programme (PSDP) of 2023-24.
An increase of Rs100 billion has been proposed in the overall federal development budget for the next fiscal year. The proposal was made for allocating Rs900 billion instead of Rs800 billion for the federal development budget.
It has also been proposed to increase the budget of public-private partnership (PPP) projects by Rs127 billion for the new financial year.
The proposal was to allocate Rs200 billion in the budget for PPP mode projects in the next financial year. For the current financial year, Rs73 billion for PPP mode projects were allocated.
Reporter: Waqas Azeem