Public Sector Funding will be raised by 10 Percent to Rs 885 billion in 2017-18

The funds for Public Sector Development Pakistan or commonly known as PSDP for the year 2017-18  would be higher by 10 percent as compared with same period last year as the government would be more focused on development projects, reducing poverty, load shedding and further improving security situation in the country.

The government would announce the Federal Budget for 2017-18 during the week of this month and is likely to increase the PSDP budget to Rs 885 billion. Of the total amount, Rs 700 billion would be spent by the government via Federal account.

The government is likely to assign Rs 100 billion for the security or to fight against terrorism, the said amount would also be allocated for the rehabilitation of areas affected by terrorism and sending IDPs back home.

Moreover, to eradicate poverty and increase opportunity for country’s youth, Rs 20 billion would be spent under Prime Minister Youth Program. Under the umbrella of ERA, Rs 7 billion would be utilized for infrastructure development.

Out of the total spending earmarked, Rs 160 billion would be used for NHA, Rs 115 billion for WAPDA, Rs 40 billion for Pakistan Railways. While under CPEC several roads sections would be built especially in the areas of Hawalian, Parhan and Thakot.

The PSDP funds would also be used for the installation of 330 Mega Watt Thar Coal Project and 1320 Coal operated Power Project in Sahiwal.