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NEC okays Rs 621bn PSDP

* Around $2 billion expected in foreign aid will be used for social sector development
* Balochistan gets record Rs 80 billion

ISLAMABAD: The National Economic Council (NEC) on Thursday approved the highest ever Public Sector Development Programme (PSDP) worth Rs 621 billion for the upcoming fiscal year 2009-10.

The NEC set the PSDP at Rs 421 billion, expecting that additional foreign inflows of around $2 billion from the United States and the Friends of Democratic Pakistan (FODP) forum could be included in the PSDP later in the year, raising the total to Rs 621 billion.

Prime Minister Yousuf Raza Gilani headed the NEC meeting, which was also attended by provincial chief ministers, the Azad Jammu Kashmir prime minister and the chief executive of the Northern Areas and FATA.

Briefing the media, Information Minister Qamar Zaman Kaira and Planning Commission Deputy Chairman Sardar Assef Ali said the additional foreign inflows of around $2 billion would be used for social sector development.

They said around $1.5 billion were expected under the Kerry-Lugar Bill facility and another $1 billion were likely to be raised through the FODP forum.

Balochistan: Kaira said with a prior consent of other provinces, Balochistan had been allocated Rs 80 billion to meet its development expenditure, the highest ever allocation.

The total allocation for the provinces’ annual development plans has been set at Rs 200 billion a raise of 17.65 percent form last year.

The government also allowed Rs 70 billion for the Benazir Income Support Programme and Rs 50 billion for the internally displaced persons, Kaira added. sajid chaudhry

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