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Pakistan

June 8, 2021

National development budget 36.4% higher for FY2021-22, says Asad Umar

Tue, Jun 08, 2021
Federal Minister for Planning, Development, and Special Initiatives Asad Umar giving a press briefing. Photo: Screenshot via Geo News.

ISLAMABAD: Federal Minister for Planning, Development, and Special Initiatives Asad Umar on Tuesday said that the government has decided to increase the national development budget by 36.4%  in the upcoming budget.

"The national development budget for the next financial year has been set at Rs2,102 billion, which is 36.4% higher than the current financial year."

He said that all regions of the country should have equal opportunities for development, adding that the PTI-led government has made sure to allocate the upcoming budget to the provinces in line with that vision.

The minister, during a press conference in Islamabad, provided details of the upcoming budget and said that despite having limited resources, the government has worked towards increasing the allocation of funds to different sectors. 

The federal development budget will be Rs 900billion, he said, adding that the government will give priority to water projects in the next financial year as well.

"Development budgets for energy, water, social development and science and technology are being increased, while major road projects, including the Sukkur-Hyderabad Motorway, will be made in the next financial year, Umar said.

Providing further details, the minister said that the Sukkur-Hyderabad Motorway project is worth Rs200 billion and added that other projects, worth Rs530 billion, will be approved by the public-private authority.

Speaking about the water projects in Sindh, Umar said that the new budget also has allocations for the K-IV and Nai Gaj Dam, adding that water projects worth Rs25 billion already exist in Sindh.

He also said that Rs100 billion is being spent on the power transmission system, while funds are being set aside for the Tarbela expansion project.

"A sum of Rs44 billion has been earmarked for the higher education sector in the upcoming budget, said Umar. "As for the social sector, 20% has been set aside instead of 11%."

In terms of climate change initiatives, Umar announced that the government has set aside Rs14 billion for the government's flagship 10 Billion Tree Tsunami initiative.

He said that the government has spent Rs51 billion for the health sector in the current fiscal year, adding that Rs85 billion have been set aside for the Bhasha Diamer and Mohmand Dams.

Speaking about the China-Pakistan Economic Corridor (CPEC) and its related projects, the minister said that the government has set aside Rs87 billion for the purpose, while Rs42 billion have been kept for the western route.