MABAD (APP) - The Annual Plan Coordination Committee (APCC) here on Friday approved allocations of Rs.600 billion for the approved projects for the Public Sector Development Programme (PSDP-2009-10) with a focus on Agriculture, Infrastructure and Social sectors, besides projecting an economic growth rate of 4 percent for the next financial year.
Announcement to this effect was made by the Deputy Chairman Planning Commission, Sardar Assef Ahmed Ali at a crowded press conference after presiding over the meeting of the APCC here at P Block Auditorium this afternoon.
He said that the meeting of the National Economic Council (NEC) will be held on June 1 which will approve the PSDP allocations of Rs.600b approved by the APCC.
He added that the out of total PSDP of Rs.600 billion Rs.400 billion is allocation from the Federal govt while Rs.200b is from the provincial share. Sardar Aseff Ahmed Ali further said that these allocations would be included in the Budgetary documents and tabled in the NA to become part of the finance bill. He said that govt wanted to complete ongoing projects which were pending from the previous regimes instead of initiating huge new projects.
He said that govt targeted a GDP growth rate of 4.5pc for the current Financial year 2008-09 but this was not achieved due to some external and internal shocks and only 2.2pc growth has been achieved. He added that due to prudent policies of the present democratic govt and the incentives announced for the Agriculture sector has helped a growth rate of 4pc for the sector.
He added that country has achieved good production of three crops including Wheat, rice and maize which has contributed in the growth rate of the country and the sector.
He said that Agriculture was always neglected by the Military dictators which suffered the sector a lot in the past but whenever the democratic government was in power the agri sector has always performed well. He said that the APCC has also approved allocations for the WAPDA according to their demands.
He added that Diamer-Basha dam is an important project for the interest of the country and this project would be started this year as the Expression of Interest (EOIs) for tenders from both domestic and international companies for the start of the project has been already invited.
Sardar Aseff Ahmed Ali added that KalaBagh dam has not been shelved and government wanted to constructs the project after evolving consensus from the four federating units.