According to the pressure from the IMF, there is a possibility of areduction of 150 to 200 billion rupees in the development budget.According to the details, a meeting of provincial finance ministers washeld under the chairmanship of Finance Minister Shamshad Akhtar, in whichthe Chief Minister of Sindh, federal and provincial treasury secretaries,and planning also participated.
Addressing the meeting, the federal finance minister emphasized the need toeliminate the price difference between the wholesale and retail markets ofessential commodities and also gave directions to prioritize governmentdevelopment projects.
On this occasion, the finance minister also issued instructions to improveservices in the fields of health and education and urged provincialgovernments to meet their expenses and targets.
The finance minister stated that there is ample room to reduce expenses,and it has been informed to the provinces regarding the reduction ofdevelopment budget allocations.
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According to sources, the finance minister informed that while consideringbudget cuts in the development budget, provinces should prioritize theirprojects because cutting in the development budget is inevitable to achievedeficit reduction goals.
