Budget 2024: Pakistan to 'increase' funds for industrial development

ISLAMABAD: The Pakistan government is likely to increase the allocation of funds for industrial development in budget 2024, ARY News reported on Monday, citing sources.

As per details, the federal government has proposed up to 103pc increase in industrial development in the upcoming budget 2024.

Rs5.79 bln allocation is proposed for the development of industries in the FY2024-25 budget, the sources privy to the development said.

Allocation of Rs1 bln is proposed for the establishment of Hub Special Economic Zone, while Rs700mln for the development of Karachi Industrial Park in the budget 2024.

Rs1.3 bln allocation is proposed for the establishment of 132KV grid station in Bin Qasim Industrial Park in Karachi.

Rs250mln have been proposed for the Support Centre for Surgical and Dental Implants in the budget 2024, the sources said.

Federal Minister for Commerce Jam Kamal Khan on Thursday said that the government will provide economic and trade policy support to the business community and their suggestions will be implemented in the upcoming budget.

The government is fully aware of its responsibilities for economic and industrial competitiveness and productivity and in this regard, full support will be provided to the industrialists.

The Minister for Commerce said this while adressing the Pre- Budget 2024-25 seminar arranged by Ministry of Commerce.