SUBSTANTIAL increase in the Public Sector Development Programme (PSDP) for the fiscal year 2024-25 announced by the government in the budget 2024-25 is indeed a cause for optimism. With a staggering 58% boost from the previous year’s allocation, the enhanced PSDP signals an intent t to take the economy on upward trajectory
At the heart of this lies a strategic allocation of resources across key sectors, indicative of a holistic approach towards national progress. The substantial rise in allocations for Water Resources reflects a forward-looking approach towards addressing the critical issue of water scarcity, laying the groundwork for agricultural productivity and environmental sustainability. Similarly, the significant augmentation in funding for Education and Health signifies seriousness towards human capital development, crucial for building a skilled workforce and ensuring public well-being. Furthermore, the boost in allocations for Information Technology & Telecommunication exemplifies a proactive stance towards embracing digital transformation, paving the way for innovation, efficiency and global competitiveness. Additionally, investment in Infrastructure and Railways underscores a concerted effort towards bolstering connectivity. It is imperative to recognize that increased spending on development projects not only catalyzes economic activity but also generates employment opportunities, thereby fostering inclusive growth and reducing poverty. However, it is also simultaneously paramount to ensure that the allocated funds are disbursed in a timely and efficient manner to avoid project delays and cost overruns. Streamlining bureaucratic processes, enhancing transparency and strengthening project monitoring mechanisms are essential steps towards optimizing the impact of PSDP allocations. Enhanced allocations for Benazir Income Support Program is also a welcome step, especially the launching of an initiative to graduate the beneficiaries from the program through skill development. Indeed this is the forward looking approach which should actively be pursued in order to enable the deserving families stand on their own feet and earn a livelihood.
