IMF Demands Hit Pakistan’s Development Budget

News Desk3 days ago

Recent papers reveal that just Rs 379 billion of the Rs 950 billion development budget was used this year to satisfy IMF targets.

The health, higher education, and infrastructure projects in Pakistan have all suffered as a result of these budget cuts.

The federal PSDP request is Rs 1,221 billion for the upcoming fiscal year, compared to the 9,800 billion needed for the Public Sector Development Programme (PSDP) projects that are now underway.

The government development budget has averaged Rs 630 billion over the last ten years. But soaring inflation and a sharp decline in the value of the rupee have also had an impact on this budget.

Read more:Pakistan Trade Deficit to Increase, Says IMF

According to the federal government, provincial initiatives put a significant strain on the budget, causing the GDP’s development budget to drop from 1.7 percent to 0.9 percent.

A portion of the primary deficit is being addressed by these measures.

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