By IANS,
Islamabad : Pakistan has allocated Rs.646 billion ($8 billion) for the public sector in its budget for fiscal 2009-10 beginning July 1 that envisages GDP growth of 3.3 percent for the year.
Of this, Rs.421 billion will be spent on federal government projects and Rs.200 billion by the provinces through their annual development programmes, while an allocation of Rs.25 billion has been made for earthquake victims’ rehabilitation.
The budget documents were tabled Saturday in the National Assembly, the lower house of parliament.
A major initiative in the infrastructure sector will be to build small and large hydro power projects and dams to overcome the country’s energy crisis, APP news agency reported.
Toward this, the government has allocated about Rs.67.59 billion for the water and power sectors with special aim of build water reservoirs to overcome the energy crisis.
The budget documents envisage providing facilities to the private sector to invest by creating an enabling environment and promote a knowledge-based economy through the development of appropriate human and physical infrastructure.
During the fiscal year 2008-09, Pakistan’s main emphasis was to ensure economic stability after a period of policy inaction had seen deterioration in the country’s macroeconomic indicators.