ISLAMABAD: The government has approved PKR 371 billion ($2.3 billion) for various development projects under the Public Sector Development Programme (PSDP) 2022-23.
According to the details, the total budget allocation for the Public Sector Development Programme (PSDP) 2022-23 stands at PKR 727 billion.
The government has approved over 50% of the total budget allocation for development projects, amounting to PKR 311 billion ($1.9 billion) for local initiatives and PKR 60 billion ($375 million) for foreign aid.
Additionally, the Secretary of the Ministry of Planning, Syed Zafar Ali, also revealed that 13 early harvest development projects worth $3 billion, aimed at helping flood-affected areas, have been approved as part of the USD 10 billion pledged by various countries at the Geneva conference.
He emphasized that any project related to a province must contribute 50% of its resources, and the same rule applies to federal government-related projects.
Furthermore, the recent floods in the country have caused extensive damage, with a loss of USD 8 billion in Sindh, USD 2.5 billion in Balochistan, and USD 750 million in other provinces.
The government has called upon the international community to provide reconstruction funds to aid in the rehabilitation process.
