PTI govt took up CPEC, massive allocation of development funds in next fiscal year

Muhammad Asad

ISLAMABAD: PTI government took up the China Pakistan Economic Corridor (CPEC) projects as its next year top priority and heading to allocate massive development funds under different heads including Public Sector Development Program (PSDP) during next fiscal year 2021-2022. Federal Minister for Planning Mr. Asad Umar flanked by Chairman CPEC authority Lt General (retired) Asim Saleem Bajwa briefed the media men regarding government priorities during next fiscal year in Islamabad on Tuesday.

Asad Umar said that government is preparing to allocate Rs. 87 billion rupees for different projects of CPEC including 78 billion for transport and communication, Rs.7 billion for Special Economic Zones (SEZs) and Rs. 42 billion for Western routes alignment including North South and East West connectivity.

While shedding light on country’s next fiscal year budget’s landscape, Asad Umar said that government is heading to allocate Rs. 2021 billion rupees for various development projects under PSDP during fiscal year 2021-2022, which is 36.1 percent increase in this head as compare to previous year spending.

While providing details into the government’s planned allocation he said that 40 percent funds had been allocated to energy sector, 7 percent for viability Gap Funding, 31 percent for social and regional equalization programs, 5 percent for production and 10 percent for water projects across the country.

According to him, funds will be allotted for construction of large dams and water conservation under national water policy. He told that Rs. 84.5 billion rupees will be allotted for construction of Mohmand, Diamer-Bhasha and Dasu dams during next fiscal year.

While responding to a media query regarding shortage of essential commodities during previous year, Asad Umar said that the government has special focus on improvement in agriculture sector and enhanced production in industrial sector.
He informed that the government is going to announce a special package for Karachi Transportation plan, Southern Balochistan, for newly merged district of Ex. FATA, Socio-Economic development of GB and more than 14 districts of Sindh Province under PSDP during next fiscal year.

While commenting on recent statement of Chief Minister Sindh Syed Murad Ali Shah, Umar said that Federation would provide Rs. 125 billion rupees to Sindh Province for different development program.

While informing the government’s interest in education sector, Asad Umar said that 44 billion rupees will be allocated for higher education, which will be equally distributed among 105 Universities for spending under 120 different educational projects. According to him Rs. 5 billion have been allocated for 6000 scholarships in various fields to the deserving students on the country.

Asad Umar said that about Rs. 244 billion rupees will be allotted for infrastructure projects including airports, motorways, interprovincial road links and more than 3261 KM new roads will be added to country’s road network during next fiscal year.