Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Wednesday chaired a meeting to review PSDP Budget proposals against the Indicative Budget Ceiling Rs1,000 billion allocated to Federal Ministries and Divisions for FY 2025-26 by Finance Ministry.
\nDuring the meeting, the minister stressed the importance of effective prioritization in budget allocation in light of the reduction in PSDP budget size for the next year, directing ministries to focus on most critical projects and projects in advanced stages for completion, a news release said.
\nHe stated this while emphasizing the need to follow Finance Division\u2019s indication of Rs1,000 billion for next financial year PSDP as compared to Ministries demand of Rs 3,000 billion and Planning Ministry\u2019s demand of a minimum of Rs1,600 billion.<\/p>\n
During the meeting, which was attended by secretaries and senior officers of federal ministries and divisions, the minister emphasized that ministries should ensure full utilisation of funds in the ending year for faster completion of projects, and new projects should be prioritized in order of their significance to national development agenda, URAAN Pakistan.
\nHe stated, \u201cWith a shrinking development budget, it is now more important to prioritize effectively and save every penny released by Planning Ministry from being misused.\u201d
\nDuring the meeting, the minister also hinted at the current challenges faced by Pakistan\u2019s masses, stressing on the ongoing water shortage as an urgent problem that needs to be solved with foremost priority.
\nHe underscored the importance of completing the Diamer-Bhasha Dam project within the stipulated time to fulfill the water security needs of the country.
\nCalling it a vital project for Pakistan\u2019s economic growth, water management, and energy security, the Minister said that it would not only contribute significantly to Pakistan\u2019s water reservoir capacity but also help mitigate flood risks and ensure a steady water supply for irrigation and domestic use.
\nDirecting officials from Water Resources Division to prioritize early completion of the Diamer Bhasha Dam, he said that its construction would play a transformative role in Pakistan\u2019s long-term development and sustainability as it will generate 4,500 megawatts of electricity.
\nFurthermore, the minister directed officials from all ministries to prepare a list of important and critical projects which risk to suffer at the cost of reduction in development budget.<\/p>\n","protected":false},"excerpt":{"rendered":"
Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Wednesday chaired a meeting to review PSDP Budget proposals against the Indicative Budget Ceiling Rs1,000 billion allocated to Federal Ministries and Divisions for FY 2025-26 by Finance Ministry. During the meeting, the minister stressed the importance of effective prioritization in budget allocation in …<\/p>\n","protected":false},"author":4,"featured_media":71529,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-81347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=81347"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81347\/revisions"}],"predecessor-version":[{"id":81359,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/81347\/revisions\/81359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/71529"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=81347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=81347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=81347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}