ISLAMABAD: The National Economic Council (NEC), under the chairmanship of Prime Minister Nawaz Sharif, has approved Rs1,513.7 billion (Rs1.514 trillion) development budget for fiscal year 2015-16.
Out of the total budget, Rs700 billion were allocated for federal Public Sector Development Program (PSDP) and Rs814 billion for provincial Annual Development Program (ADP).
Out of centre’s total share, Rs100 billion were allocated for temporarily displaced persons (TDPs) and security enhancement, Rs20 billion for the Prime Minister’s Youth Programme including laptop programme, Rs266 billion for ministries/divisions, Rs256.3 billion for corporations (NHA and Wapda), Rs30 billion for federal development programmes, Rs20 billion for MDGs community development and Rs7 billion for the Erra.
Total 938 projects/programmes costing Rs5.2 trillion would be financed during 2015-16. In addition, 83 projects of power sector that will be financed by the sponsoring agencies from their own resources also reflected in the PSDP.
For outgoing fiscal year 2014-15, the NEC was informed that the revised estimates for development outlay stood at Rs1188 billion against initial allocation of Rs1175 billion.
Chief ministers of all the provinces; KP governor; federal ministers for finance, planning and water & power; finance ministers of all provinces and AJ&K; and secretaries for ministries for finance and planning attended the meeting along with other senior government officials.
