As preparations for the new financial year’s budget are underway, the Annual Plan Coordination Committee is scheduled to convene on May 31 to deliberate on critical aspects of the upcoming fiscal plan.
The meeting aims to approve the annual macroeconomic plan and development program, setting the stage for the country’s economic agenda for the next year.
The Ministry of Planning has drafted two proposals for the Public Sector Development Programme (PSDP), outlining financial requirements totaling Rs2,441 billion for 1,370 development projects. The first proposal requests Rs1,172 billion for 248 projects, while the second seeks Rs1,500 billion for 628 projects.
Additionally, a plan to allocate Rs769 billion for projects under foreign funding was discussed, with an emphasis on prioritizing the completion of projects that are 80% complete.
Sources within the Planning Ministry indicate that the coordination committee has proposed allocating Rs71 billion for new development projects and earmarking Rs328 billion for ongoing projects to comprehensively address the country’s development needs.
Moreover, it is estimated that Rs200 billion will be obtained through public-private partnerships, while Rs108 billion will be allocated for non-specific projects.
The Ministry of Finance will allocate the development budget considering the government’s financial capacity and prioritizing key investment areas. Additionally, a GDP growth target of 3.7% and an inflation target of 11.8% have been proposed for the next financial year.
The meeting will also address the approval of the National Development Outlay, underscoring the government’s commitment to fostering economic growth and development across various sectors.
