The Ministry of Finance has decided to set the federal development budget limit for the new fiscal year at Rs. 1,200 billion, sources told ProPakistani. The development budget proposals will be prepared within the limits set by the Ministry of Finance.
The Ministry of Planning has started working on the development budget for the new fiscal year, sources added. If fully allocated, the development budget will see an increase of 260 billion rupees compared to the current fiscal year.
The Ministry of Planning had requested a development budget of Rs. 1,140 billion for the new fiscal year. An increase of Rs. 200 billion was requested for the federal development budget compared to the current fiscal year.
For the new fiscal year, ministries and divisions had demanded more than Rs. 2,900 billion. Not all proposals from ministries and divisions will be included in the development budget.
In the budget for the upcoming fiscal year, ongoing projects and their completion will be a top priority. Funds will be allocated for priority projects of ministries and divisions in the budget, sources say. The priorities in the budget will be determined based on the quality of the projects.
