AS process of budget making has started, it is really heart ening to see that government focus this time around appears to be on development side, which indeed is need of the hour to create economic activity and provide job opportunities to people.
In an interview with Bloomberg, Finance Minister Shaukat Tarin said government is planning to boost spending on large infrastructure projects by as much as forty percent.
He said the government would earmark about Rs 900 billion for development expenditure in the year beginning from July.
Chairing a meeting on Friday, Prime Minister Imran Khan also emphasised the need for adding new projects to Public Sector Development Programme (PSDP).
This focus on development was missing in previous years of the PTI government and this is the reason that one saw utilisation of development funds in the first half of current fiscal year remained very level, probably close to twenty nine percent.
So there is a positive shift in government’s strategy and indeed this is the most sagacious approach to take the country towards economic growth.
Spending on large infrastructure projects by government will also encourage private sector and give them confidence on the economy.
It is however important that development projects are envisaged in a manner that serve requirements of the country and take the country towards higher growth.
Special focus should be given to neglected areas of tribal districts, South Punjab, Interior Sindh and Balochistan in order to bring them at par with other developed parts of the country.
It must be ensured that development projects are completed within given timeframe by ensuring timely disbursement of funds as delays only shoot up cost of the projects.
In today’s world, technology has assumed great importance and we have to own and utilise it.
As long as we do not increase capacity of our human resource and give them right incentives and motivation, we cannot derive much from technology.
Hence, we will urge PTI government to also make investments in human resource development to fully utilise the technology, which indeed can make our country export powerhouse.