Finance Division: Rs.18.166 bln proposed for projects under PSDP in the coming year

The Finance Division today proposed an allocation of 18.166 billion budgets for the 28 Provincial Projects under the Public Sector Development Programme (PSDP) for the coming Financial Year. This year budget’s allocation has been increase of Rs 10 Billion compared to the previous year’s 8.332 billion.

The budget details show that the province to receive highest percentage to these funds is Baluchistan Rs. 12.932 billion for 14 different projects. Sindh has been allocated a budget of Rs 4.004 billion for 9 projects. Punjab has been allotted an amount of Rs. 100 Million where as Khyber Pakhtunkhwa will receive a sum of Rs 1.130 billion for 4 projects.

The funds are released only after the approval of Ministry of Planning, Development and Reform (PD&R) and are placed under the PSDP by the ministry awaiting President or Prime Minister’s directive whereas the Provincial Government are executing agencies.

The APCSA numbers reveal a surge in the domestic demand for the Cement Sector; these projects will go a long way to increase the revenues for local cement industry. With an already strong sector, the resulting contracts from the PSDP projects will increase the sales for the local cement sector substantially.