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Government Spending on Development Projects Reaches Rs. 150 Billion in First Half of FY24

Islamabad, January 16: The government has utilized close to Rs. 150 billion in development spending during the first six months of the current fiscal year 2023-24, according to official data.

The spending is part of the Rs. 306 billion allocated for the Public Sector Development Program (PSDP) for the full fiscal year.

Out of the total utilized so far, over Rs. 130 billion has gone towards development projects initiated by various federal ministries and divisions. The largest allocations include over Rs. 35 billion by the Cabinet Division, Rs. 25 billion by the Ministry of Water Resources, and Rs. 11.44 billion by the Railways Division.

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Provinces and special areas have utilized Rs. 29.5 billion for their respective development schemes. Major education and infrastructure entities like the Higher Education Commission and the Ministry of Housing have spent over Rs. 9 billion and Rs. 4.86 billion respectively.

The data indicates that development spending has been robust in the first half of the fiscal year, as the government aims to boost growth through public infrastructure projects. However, utilization needs to accelerate in the remaining months to fully achieve the PSDP target.

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