KARACHI: Sindh Government on Saturday unveiled Rs700.1 billion development outlay for the next financial year 2023-24, showing an increase of 65 percent against the development budget of Rs459 billion in the last financial year.
The development outlay for next fiscal is also higher by 58 percent against Rs406 revised development budget in the current fiscal.
Sindh Chief Minister Syed Murad Ali Shah presenting the budget of the province said that total development outlay comprised of annual development programme (ADP) of province, district ADP, federal Public Sector Development Programme (PSDP) and foreign project assistance.
According to the budget document, Sindh government set provincial ADP at Rs380.5 billion in the next financial year compared to Rs226 billion in the current fiscal.
Government set aside Rs30 billion for district ADP in next fiscal compared to Rs20 billion in the current financial year and earmarked almost Rs23 billion in federal PSDP in 2023-24 compared to Rs12.5 billion in the current financial year. It also set aside Rs266.6 billon under foreign projects assistance compared to Rs147.8 billion in the current fiscal.
The provincial development portfolio for year 2023-24 comprises 5,248 schemes containing 3,311 ongoing schemes with a provision of Rs291.727 billion and 1,937 new schemes with a provision of Rs88.273 billion.
“We are focused on completion of ongoing schemes for which 80 percent of the budget has been dedicated,” the CM said. The increase in size of foreign assisted projects is due to initiating new projects for rehabilitation and reconstruction of flood damaged infrastructure.
In next year’s budget a considerable amount of Rs34.69 billion has been allocated for the development projects relating to the education sector. Likewise, a healthy sum of Rs19.739 billion has been reserved for schemes under health services and a provision of Rs11.517 billion has been kept for development projects of the home department. Besides, the irrigation sector would have Rs25.0 billion for next year’s development activities. Budget documents showed that revised estimates for development expenditure for financial year 2022-23 stand at Rs406.322 billion. It includes Rs226.00 billion for provincial ADP and Rs20.0 billion for district ADP, Rs147.822 billion for Foreign Projects Assistance (FPA) and Rs12.5 billion for federal PSDP schemes. The provincial ADP 2022-23 comprises of 4,158 schemes, including Rs253.146 billion for 2,506 on-going schemes, and Rs79.019 billion was estimated for 1,652 new schemes.
A huge sum of Rs62.5 billion will be used for development under local governments and housing and town planning projects. On the same lines, a provision of Rs24.35 billion will be available for public health engineering and rural development project, whereas, development portfolio for government buildings and roads network under works and services will stand at Rs89.05 billion.
The development budget of Sindh added twenty new schemes under mega projects for Karachi city.