Islamabad – The federal government will offer the fiscal year budget 2025-1026 on June 2, a few days before the holiday, the Minister of Planning announced the best turnout at a press conference on Friday.
The government has determined the allocation of 921 billion rupees to the Public Sector Development Program (PSDP), which represents a 16 % reduction in 1.1 trillion rupees for the current fiscal year. Although the Planning Committee has proposed a much higher amount of 2.9 trillion rupees based on the unified demands of the various ministries, the Ministry of Finance approved the roof of the IBC budget (IBC) only 921 billion rupees.
Iqbal expressed concern about reducing the allocation and said that he would push an increase to at least 1.6 trillion rupees to secure 700 billion rupees on a rupee cover for foreign funding projects.
So far, 900 billion rupees have been declared to be released under PSDP for the continuous year, with additional expectations expected during the remaining months of May and June.
The annual Plan Coordination Committee (APCC) is scheduled to meet on May 23 to end the development framework, while the National Economic Council (NEC) is expected to approve the goals of the macroeconomic and PSDP by 26 or 27 May.
Due to the narrow budget ceiling, the provinces listed in PSDP will witness significant discounts, and about 200 projects will be suspended that have shown completely limited progress to ensure the best resource customization.
