Pakistan Budget Updates
ISLAMABAD: Planning Minister Ahsan Iqbal has said economic indicators of the country are highly positive and growth of GDP in the next fiscal year is estimated at six percent.
The Minister said agriculture sector performed due to incentives given by the Prime Minister to farmers including credit facilities, subsidy on fertilizers and electricity bills.
He said that manufacturing sector also contributed satisfactorily and after the provision of uninterrupted gas and electricity has triggered the growth of industrial sector.
The Minister said that development budget has been enhanced three times and over two trillion rupees are being allocated for the next year.
He said that Rs404 billion are being allocated for infrastructure projects which will spent on roads and railways network.
He said that development budget for FATA has been enhanced to Rs24.5 billion while budget of AJK also being doubled from Rs10 billion to Rs20 billion.
Similarly, budget of Gilgit Baltistan has also been enhanced from Rs9 billion to Rs15 billion.
The Minister further said that budget for Higher Education Commission will be Rs35 billion to promote Education sector.
He said that GDP growth during the current financial year remained at 5.3 percent.
He said that social sector development budget has also been increased from Rs90 to Rs135 billion while special measures are being proposed for the growth of IT sector.
He further said Rs180 billion have been proposed for the projects of China-Pakistan Economic Corridor.
Ahsan Iqbal said 15.8 percent growth has been witnessed in investment which is higher than previous years.
He said that Prime Minister has requested all four provinces to plan out funding for AJK, Gilgit Baltistan and Fata which are also part of Federation.
The Minister said development projects worth Rs17 billion will be completed in Gwadar.