Planning commission proposes Rs2,709 bn development budget for 2024-25
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Annual plan committee sets expenditure plans, GDP growth for next fiscal year
ISLAMABAD (Dunya News) – With the announcement of the next budget around the corner, the planning commission has proposed the development budget for the next fiscal year.
For the fiscal year 2024-25, the proposed development budget stood at Rs2,709 billion.
The session for the next budget took place in the annual coordination committee which was headed by Planning Commission deputy chairman Jahanzeb Khan.
All stakeholders, from the officials of finance ministry to AJK and GB’s representatives, participated in the meeting.
The proposed amounts for the respective sectors were as follows: Rs1221 billion proposed for PSDP, Rs877 billion for infrastructure, Rs378 billion for energy development programs, Rs173 billion for transport and communication, Rs284 billion for water resources and Rs42 billion for physical planning and housing.
Also, the planning commission has proposed Rs83 billion for social sector, Rs17 billion for health and Rs32 billion for education while no budget has been sidelined for the SDGs.
As for the amounts for AJK and the erstwhile FATA region, it has been proposed to award them Rs51 billion and Rs57 billion respectively.
Meanwhile, Rs104 billion for science and technology, Rs21 billion for production sector, Rs14 billion for agriculture and Rs7 billion for industries have been proposed.
According to the document of the Planning Commission, the GDP growth for the next fiscal year was estimated at 3.6 percent while the current fiscal year GDP growth stood at 2.4 percent with the GDP growth target of 3.5 percent could not be achieved.
