Islamabad: Pakistan has fulfilled another condition of the International Monetary Fund (IMF).
The Planning Commission has issued a new scorecard for the approval of new development projects, which will further limit the PSDP for the next fiscal year.
The Planning Commission has issued guidelines based on the Public Investment Procedure and Parameters. According to the document, priority projects will be included in the PSDP under the scorecard.
According to the Planning Commission document, 10 percent of new development projects will be allowed to be included in the next fiscal year. There will be a ban on financial assistance for provincial projects under the PSDP, however, the federal government will continue to provide financial assistance to specific regional projects.
It should be noted that the allocated PSDP for the current fiscal year was also reduced by Rs 300 billion. In the current fiscal year, Rs 1400 billion was allocated for PSDP and it has been reduced to Rs 1100 billion by cutting the PSDP.
Meanwhile, federal ministries and divisions have already restricted the use of PSDP.
