Minister for Planning, Development and Reform, Makhdum Khusro Bakhtyar Wednesday said the government had set the Gross Domestic Product (GDP) growth target of 4% for the upcoming fiscal year which would be achieved by implementing measures proposed in the federal budget 2019-20.
Addressing a post budget press conference here, the minister said that the government had considerably increased the federal development budget under Public Sector Development Programme (PSDP), 2019-20 under which allocation of an amount of Rs 951 billion has been proposed including Rs 251 billion for promotion of public private partnership (PPP) in business activities.
“This increase in development budget will have a positive impact on the GDP growth as more investment will come under PPP,” he added.
Khusro said unlike in the past, 80% budget has been allocated for the ongoing projects in order to ensure that such projects are completed in time which will also help saving additional expenditures incurred due to delays in the projects.
He hoped that 30% of the ongoing projects would be completed by the end of next fiscal year.
The minister said the backward areas of the country including FATA, Southern Punjab and Balochsitan, and Sindh had been given due share in the development budget.