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Govt releases Rs257b for development projects under PSDP

Govt releases Rs257b for development projects under PSDP

ISLAMABAD: The government has released Rs257 billion for development projects under the Public Sector Development Programme (PSDP).

In a statement on Tuesday, Pakistan Tehreek-e-Insaf (PTI) spokesperson Ahmad Jawad said that an additional amount of Rs30 billion have been earmarked by the government for Naya Pakistan Housing Scheme (NPHS).

He said Punjab Chief Minister Usman Buzdar has given approval for the establishment of the Thal University in Bhakkar.

The spokesperson said the foreign exchange reserves of State Bank of Pakistan (SBP) have increased by $443 million.

Jawad said the government has decided to earmark an additional Rs250 billion to address the issue of circular debt. This, he said, would prove to be helpful in addressing the issue of inflation.

The spokesperson said there were bright prospects of the economy growing more than the estimated 3.3 per cent during the current fiscal year. He said it was the first time in the last 15 years that Bangladesh would import onion from Pakistan.

The spokesperson said pharmaceutical exports rose by 12.3 per cent during the first quarter of current fiscal year. He said the government has also announced a package of Rs200 billion for the promotion of exports.