Price sta­bil­ity, re­duc­tion in fis­cal deficit key achieve­ments

Pakistan Observer - - ECONOMY WATCH -

IS­LAM­ABAD—The ma­jor achieve­ments of the out­go­ing fis­cal year which were re­al­ized through prag­matic poli­cies of the govern­ment were eco­nomic growth, price sta­bil­ity, im­prove­ment in tax col­lec­tion and re­duc­tion in fis­cal deficit, said a political an­a­lyst here on Monday. Be­sides it was dur­ing this pe­riod when worker re­mit­tances touched new heights and for­eign ex­change re­serves achieved an un­prece­dented fig­ure, an an­a­lyst Fazal Hakim told APP while com­ment­ing on achieve­ments of the present govern­ment dur­ing the pre­vi­ous fis­cal year.

He said Govern­ment has al­lo­cated Rs 1,675 bil­lion for Pub­lic Sec­tor De­vel­op­ment Pro­gram (PSDP) with 10% in­crease in the bud­get 2016 17 against Rs 1,154 bil­lion last year with a pledge to con­sume over 96% of to­tal al­lo­ca­tion in the de­vel­op­ment projects. The fed­eral com­po­nent in PSDP for com­ing year is cal­cu­lated Rs 800 bil­lion, It com­prises Rs. 143 bil­lion for­eign aid com­po­nent as well. Out of to­tal ear­marked funds the Min­istry of Plan­ning, De­vel­op­ment and Re­form will ad­min­is­ter Rs.655 bil­lion. While the pro­vin­cial An­nual De­vel­op­ment Plan (ADP) is fixed at Rs.875 bil­lion with Rs. 86 bil­lion as for­eign com­po­nents.

Fazal Hakim said Rs 157 bil­lion has been pro­posed for power sec­tor, Rs. 260 bil­lion for the trans­port and com­mu­ni­ca­tion sec­tor, Rs. 32 bil­lion for the wa­ter sec­tor, Rs. 18 bil­lion for phys­i­cal plan­ning and hous­ing sec­tor, Rs. 29 bil­lion for ed­u­ca­tion in­clud­ing ter­tiary ed­u­ca­tion, Rs. 20 bil­lion for Sus­tain­able De­vel­op­ment Goals and Rs.11 bil­lion for other so­cial sec­tor projects. It is im­por­tant to note that sep­a­rate funds for the lap­top project and Afghan schol­ar­ships scheme will be pro­vided out­side the PSDP al­lo­ca­tion, he added.

While com­ment­ing on GDP growth rate, he said GDP is set 5.7% dur­ing next year, Plan­ning Com­mis­sion, the pro­ducer of An­nual De­vel­op­ment doc­u­ment has warned the risks of weather fluc­tu­a­tion and in­ter­rup­tion in re­forms An­a­lyst said. PSDP has been in­stru­men­tal in de­vel­op­ing in­fra­struc­ture, con­nec­tiv­ity and so­cial up­lift in the coun­try and Rs 22 bil­lion for China Pak­istan Eco­nomic Cor­ri­dor (CPEC) shows the de­ter­mi­na­tion of the govern­ment to make Pak­istan pros­per­ous and strong global de­vel­op­ment in­dex.—APP

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