Federal Minister for Planning Ahsan Iqbal Chairs Annual Review Meeting of PSDP 2023-24

Islamabad, September 11, 2024: The Federal Minister for Planning, Development, and Reforms, Ahsan Iqbal, presided over the annual review meeting of the Public Sector Development Programme (PSDP) 2023-24. The meeting was attended by Federal and Provincial Secretaries, Government representatives, and senior officials. Several key decisions and recommendations regarding the development budget were discussed during the session.

Speaking at the meeting, Minister Ahsan Iqbal stated that Pakistan is currently facing significant economic challenges, and formulating a development budget under these circumstances has been a major task. He emphasized that the government has taken crucial steps to ensure transparency in development projects during these challenging times.

Comparing the development budgets of 2013 and 2018, Ahsan Iqbal highlighted that the development budget in 2013 was just PKR 340 billion, which his government had increased to PKR 1,000 billion by 2018. He added that if the government had continued without disruption in 2018, the development budget would have reached PKR 3,000 billion by now. However, due to the current situation, the budget stands at a meager PKR 1,100 billion.

Discussing the current scenario, Ahsan Iqbal pointed out that the development budget, which was 12% of the GDP in 2018, has now dwindled to 4%. He asserted, “If there had been consistency in policies, the development budget would have reached 15% of the GDP today.”

Ahsan Iqbal further stressed that it is the responsibility of ministries and provincial governments to align their development budget demands and project planning with national priorities. He warned that misuse of the development budget would not be tolerated and urged all ministries to reconsider their priorities in line with national goals. He also noted that the budget, subsidies, salaries, and pensions are currently being funded through loans, and there is a pressing need to increase reliance on national resources to strengthen the economy. Solid measures will be taken to increase government revenue and balance expenditures.

Concluding his address, Ahsan Iqbal stated that only those projects will be initiated that have a direct positive impact on the lives of the people. The government’s top priority, he emphasized, is to strengthen the economy.