ISLAMABAD: With proposed allocation of Rs62 billion for CPEC projects, including a meager allocation of just Rs7 billion for much-awaited Mainline , the National Economic Council is all set to.
National development outlay of Rs2,101b to be approved on Monday
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June 5, 2021
ISLAMABAD: With proposed allocation of Rs62 billion for CPEC projects, including a meager allocation of just Rs7 billion for much-awaited Mainline (ML-1), the National Economic Council (NEC) is all set to approve the national development outlay of Rs2,101 billion for the next budget on coming Monday.
The NEC is scheduled to meet under the chairmanship of Prime Minister Imran Khan on coming Monday. Out of the total estimated cost of Rs1.1 trillion for construction of much-awaited railways Mainline-1 under CPEC projects, the government is going to allocate just Rs7 billion in the upcoming budget. Official sources said that the financing of ML-1 was not yet finalized with the Chinese side, so the government preferred to keep token allocation to make this project part of the Public Sector Development Program (PSDP). The cost of ML-1 has been estimated at Rs 1.1 trillion.
Centre, provinces failed to utilise allotted funds
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June 5, 2021
ISLAMABAD: The utilization of development funds at provincial levels remained dismally poor and the provinces have been left with no other option but to slash down development outlays from Rs950 billion to Rs867 billion for the outgoing fiscal year 2020-21.
Official documents showed that so far, the utilization of funds under the Public Sector Development Program (PSDP) at federal level also remained pathetic as it stood at just Rs421 billion as of June 1, 2021 against the total allocation of Rs650 billion for the outgoing fiscal year ending on June 30, 2021.
The Ministry of Planning has so far released funds to the tune of Rs563 billion out of the total allocated amount of Rs650 billion but pace of utilization failed to pick up owing to a variety of reasons.
KARACHI: The government’s borrowing requirements from the banking system are likely to increase in the next fiscal year due to an expected surge in the budget deficit amid higher spending to.
National development outlay of Rs2,101b to be approved
Top Story
June 5, 2021
ISLAMABAD: With proposed allocation of Rs62 billion for CPEC projects, including a meager allocation of just Rs7 billion for much-awaited Mainline (ML-1), the National Economic Council (NEC) is all set to approve the national development outlay of Rs2,101 billion for the next budget on coming Monday.
The NEC is scheduled to meet under the chairmanship of Prime Minister Imran Khan on coming Monday. Out of the total estimated cost of Rs1.1 trillion for construction of much-awaited railways Mainline-1 under CPEC projects, the government is going to allocate just Rs7 billion in the upcoming budget. Official sources said that the financing of ML-1 was not yet finalized with the Chinese side, so the government preferred to keep token allocation to make this project part of the Public Sector Development Program (PSDP). The cost of ML-1 has been estimated at Rs 1.1 trillion. According to official documents, t