Development budget of provinces slashed by Rs60 billion

ISLAMABAD: The overall development budget of the provinces has been slashed by Rs60 billion in the upcoming federal budget for FY2023-24, ARY News reported quoting the budgetary proposals.

According to the budget proposals, the revised development budget of the provinces has been slashed to Rs1,598 billion from 1,658 billion.

As per break up, the development budget of Sindh in FY2023-24 has been slashed to Rs391 billion from earlier Rs424 billion. KP’s budget after the deduction of Rs15 billion has been fixed at Rs340 billion, according to the budget document.

The development budget for Balochistan has been revised to Rs165 billion from Rs206 billion. Surprisingly, the development budget of Punjab has been increased by Rs29 billion and is proposed at Rs702 billion in FY2023-24.

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Furthermore, the federal development budget has been proposed at Rs1,150 billion, while an allocation of Rs950 billion has been proposed under Public Sector Development Programme (PSDP) in the FY2023-24 budget.

It is pertinent to mention here that the Budget 2023-24 would be presented on 9th June in the National Assembly after approval by the federal cabinet.