FLASHNEWS:

Islamabad Allocates Nearly PKR 948 Billion for Development Projects in KP

Islamabad: In a detailed update to the National Assembly, Planning Minister Ahsan Iqbal disclosed that the federal government is currently overseeing the execution of 101 Public Sector Development Program (PSDP) projects in Khyber Pakhtunkhwa (KP). The collective value of these initiatives is estimated at PKR 947.5 billion.

According to Zameen.Com, these extensive projects span various sectors and are managed by different federal ministries and departments. As of June 30, 2024, an expenditure of PKR 304.8 billion has been recorded. For the fiscal year 2024-25, an additional PKR 52.4 billion has been earmarked to advance these developmental efforts.

Minister Iqbal also noted the completion of 20 significant projects over the past two years, which had a total budget of PKR 17.9 billion. These projects are part of a broader strategy to boost development across the province without allocating specific provincial shares for funding, following the financial adjustments after the 18th Amendment. This amendment has resulted in provinces receiving 58.5% of the revenue, which adjusts the federal share to 42.5%.