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ISLAMABAD:
The federal government is likely to bring significant changes to the Public Sector Development Programme (PSDP) for the upcoming financial year 2024-25, driven by conditions set by the International Monetary Fund (IMF).
Among the most notable proposals is the termination of funds for discretionary development schemes of members of parliament.
Sources revealed that during this election year, a hefty allocation of Rs61 billion had been designated for parliamentarians’ schemes. However, under the guidance of the IMF and the World Bank, the government is set to discontinue funding for these and other provincial projects.
Notably, the budget for health development is set to see a significant cut, decreasing from Rs26 billion to Rs17 billion. The education sector is similarly impacted, with a proposed allocation of Rs32 billion, down from the previous Rs83 billion.
Infrastructure development will also face substantial reductions. The budget for roads, highways, and motorways is proposed to be slashed to Rs173 billion from the earlier allocation of Rs245 billion.
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