Lahore
Finance Minister Makhdoom Hashim Jawan Bakht on Friday revealed that 35 percent budget had been allocated for eliminating inter-district disparity in the province. This policy is aimed at ensuring inclusive growth so that all the people could equally benefit and grow.
He stated this while addressing a seminar at Government College University on the topic of participation of higher education institutions for inclusive growth in Pakistan.
In his keynote address, the minister said that provincial government and line departments have been instructed to spend the budget for backward areas on the development of same localities.
This budget would not be utilized for the development work of any other area, he added. He disclosed that one-third of the population resides in southern Punjab but only 17 percent budget was used to be allocated for southern Punjab districts before the election of 2018.
The PTI government has introduced a new development model in the province and public sector investment has been made in areas which are usually ignored by the private sector.
Meanwhile, dependency on private sector is being increased in other sectors, he said. The incumbent government has introduced provincial growth strategy and more than 88 indicators have been identified that directly influence the GDP. As far as the participation of higher education institutions in national development is concerned, the policy formulation process would remain incomplete without the feedback of research scholars. —INP
