News
Tuesday, March 16, 2010
PM increases PSDP by Rs 50 billion
* Gilani says PSDP to be fixed at Rs 300bn
* Social sector allocations will be protected despite resource constraintsStaff Report
ISLAMABAD: Prime Minister Yousaf Raza Gilani on Monday said the Public Sector Development Programme (PSDP) would be fixed at Rs 300 billion, which was earlier fixed at Rs 250 billion.
The original PSDP allocation was Rs 421 billion for the year 2009-10.
Talking to reporters after a meeting of the Planning Commission for the PSDP’s review, the PM said the Rs 300 billion PSDP would focus on developing the social sector and backward areas.
Despite constraints: The size of the PSDP was slashed due to the war on terror and efforts to help the internally displaced persons (IDPs). Despite resource constraints, social sector allocations will be protected,” he said.
Officials in the Planning Commission told Daily Times that during the meeting, the prime minister was given a briefing on various ongoing projects of railways, agriculture, health and other social sectors. It was decided that grants for the projects would be released on a fast-track basis.
The projects of the Atomic Energy Commission and Chashma Left Link Canal would be taken up on a “priority basis” and financing would be ensured for building double railway tracks and for improving conditions of locomotives.
Gilani said the annual PSDP had become the main instrument for translating the nation’s goals of socio-economic development. A quarterly review of the PSDP should now become a permanent feature, he said.
“The elected government inherited an economy, which has faced multiple challenges including a poor law and order situation. It is heartening to see the economy back on track and economic numbers improving. The high growth, no matter how satisfying it may be, is of no use unless its fruits reach those living in poor conditions,” the PM said, adding that the size of the federal component of the PSDP was increased from Rs 219 billion in 2008-09 to Rs 421 billion in 2009-10 to address the issues of energy, water shortages and to spend more on health, education and poverty alleviation.
To a question about the government’s austerity measures, he said a number of organisations would be restructured to improve their financial performance.
Courtesy www.dailytimes.com.pk