PPI Original Text (PPI-OT) – Hafeez briefs Prime Minister about current economic situation and allocation for public sector development programme

Islamabad, May 23, 2012 (PPI-OT): Minister for Finance, Dr. Abdul Hafeez Shaikh briefed the Prime Minister about the current economic situation and the allocation for the public sector development programme and the preparation of the Democratic Governments’ fifth budget, in a meeting at the PM’s Sectt here today.

The Finance Minister apprised the Prime Minister that in line with Prime Minister’s guidance the annual PSDP will be conceived while ensuring fiscal balance.

The allocation in the PSDP, to be approved by NEC tomorrow, will focus on balanced regional development, completion of ongoing schemes and better utilization of development assistance, the Finance Minister said.

The Finance Minister further said that areas of electricity, water and food security, communication will receive appropriate allocation.

The Finance Minister also informed the Prime Minister that in the current financial year, the utilization of PSDP was 100% will budget of Rs. 300 billion used for completion of over hundreds projects.

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