Pakistan federal government has allocated Rs58.1 billion for Pakistan-China Economic Corridor (PCEC) in new financial year under Public Sector Development Programme (PSDP) during announcement of Federal Budget 2015-16 today.
Statistics released here on Friday unveiled that Rs10 billion is allocated for technical subsidy and land purchases in Islamabad, Mianwali, Dera Ismail Khan while Rs2.8 billion would be spent on road construction in Gwadar-Turbat section, Gwadar-Ratu Dero road and M-8 projects.
N-85 will be expanded and re-constructed with allocated funds of Rs2.5 billion, Rs2 billion for N-50 and Rs10 billion for other PCEC development projects.
The federal government is primarily giving importance to the Pakistan-China Economic Corridor project in new financial year to gain early economical benefits for the country.
Earlier, Pakistani Finance Minister Ishaq Dar presented Federal Budget 2015-16 during National Assembly session held at the Parliament House Islamabad under chair of Sardar Ayaz Sadiq.
Federal Budget for new fiscal year emphasised fixed GDP growth rate up to 5.5 per cent and attractive plans for foreign investments besides provision of relief to the nationals.
National Economic Council (NEC) chaired by Prime Minister Nawaz Sharif had approved Rs700 billion for Public Sector Development Programme for next financial year.
GDP growth rate has been fixed at 5.5 percent, growth rate for agriculture sector at 3.9 and that of manufacturing sector 6.1 percent. Export target for the year has been set as 25.5 billion dollars
