Govt decides to start new development projects in budget 2023-24

ISLAMABAD: Federal government decided to start 158 new development projects in the budget 2023-24, ARY News reported citing sources.

According to sources, the new projects will start in provinces and ministries in the upcoming budget 2023-24.

Sources said that 32 new development projects will kick off in the power division, eight projects in National Highways Authority (NHA), and a project of 250 mini sports complexes across Pakistan will be part of this development projects in budget 2023-24.

The federal government will start 14 news schemes in Higher Education Commission (HEC) where a National Cyber Security Academy will be made. Seven projects will be initiated in National Health Services Regulation and Prime Minister Hepatitis C program will start in the next fiscal year which will cost Rs 74.36 billion.

Earlier, Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal said the government had approved an Rs1,100 billion development budget for the upcoming fiscal year aimed at achieving the required goals of economic growth.

The minister said out of the total budget, Rs950 billion would be utilized under the Public Sector Development Programme (PSDP 2023-24) and Rs150 billion under the public-private partnership to execute different development schemes.

Initially, he said, the Finance Ministry had proposed Rs700 billion for the PSDP 2023-24 which was extremely insufficient. “So we made a written request to Prime Minister Shehbaz Sharif to increase the amount of development budget to achieve economic growth, and the PM has approved Rs1,100 billion development budget.”