Islamabad: It has been proposed to allocate 2709 billion rupees for the development budget of the federation and the provinces as a whole for the next financial year 2024-25.
Annual Plan Coordination Committee meeting was held for the upcoming budget which was chaired by Deputy Chairman Planning Commission Jahanzeb Khan. Representatives of Azad Kashmir and Gilgit-Baltistan along with officials of the Ministry of Finance, State Bank, Provincial Governments also participated in the meeting.
In the meeting, 1221 billion rupees for PSDP, 877 billion rupees for infrastructure, 378 billion rupees for energy development programs, 173 billion rupees for transport and communication, 284 billion rupees for water resources and physical planning and It has been proposed to allocate 42 billion rupees for housing.
The Planning Commission has proposed to allocate a total of 83 billion rupees for the social sector, 17 billion rupees for health and 32 billion rupees for education, while not allocating any budget for the SDGs.
It has been proposed to allocate Rs 51 billion for Azad Jammu and Kashmir and Gilgit-Baltistan and Rs 57 billion for the merged districts.
104 billion rupees for science and technology, 21 billion rupees for production sector, 14 billion rupees for food and agriculture and 7 billion rupees for industries were proposed.
According to the Planning Commission document, the GDP growth for the next fiscal year was estimated at 3.6 percent, the current fiscal year GDP growth was recorded at 2.4 percent, while the GDP growth target of 3.5 percent could not be achieved.
For the next financial year, the agriculture sector growth target is 2.0 percent, industrial sector growth target is 4.4 percent, services sector growth target is 4.1 percent, livestock production target is 3.8 percent, fishery production target is 3.2 percent and forestry is It is proposed to set the production target at 3.1% for
It is proposed to keep the productivity growth for the manufacturing sector at 4.4 percent, while the growth target for large-scale manufacturing is proposed to be 3.5 percent and for the small and household production target is proposed to be 8.2 percent.
