Federal makes a drastic cut to the PSDP
ISLAMABAD - Senate Standing Committee on Planning Development and Reforms here on Tuesday was informed that the developmental expenditures under Public Sector Development Program (PSDP) has been revised from Rs. 800 billion to Rs 675 billion.
The committee met here under the Chairmanship of Senator Agha Shahzaib Khan Durrani and considered recommendations of members on the Finance Supplementary Amendment Bill 2018 relating to Public Sector Development Program 2018-19.
Briefing the committee, Advisor to Planning Commission Asif Shaikh said that a total of Rs. 125 billion was slashed from the total PSDP, which would be spent on the priority projects of the social sector development. He said that unapproved projects for financing under PSDP had been dropped and maximum efforts were made to continue all such projects where 10 percent was spent from the public money.
He said that the projects where 10 percent money was spent they were differed not dropped and would be considered in next PSDP for funding on priority basis. It was also informed that about unapproved 400 developmental projects costing Rs 1.9 trillion dropped, adding that an amount of Rs 55 trillion were allocated under current PSDP.
The committee was informed that China-Pakistan Economic Corridor (CPEC) was on the top priority and all the developmental projects would be financed and completed. In PSDP, 2018-19 an amount of Rs 3-4 billion had been allocated for different projects under CPEC, besides making allocation for the different projects in Gwadar.
He further informed that committee that Rs 34.5 billion would be spent on the development of Federally Administered Tribal Areas. Asif Shaikh said that government had also formed 10 year plan for the development of FATA and an amount of Rs 1 trillion would be spent on the uplift of these areas.
The Chairman of the Committee asked for ensuring the adequate funding for health and education sector, besides the developmental projects of Gawdar.
He also asked for taking measures for the development of FATA to bring the areas as per with other areas of the country. The Senators Hidayat Ullah, Momin Khan Afridi along with other senior officials of Planning Commission, Federal Board of Revenue and other departments attended the meeting.