
KP to allocate 100pc funds for near completion projects
PESHAWAR: KP Chief Minister Ali Amin Gandapur has directed the concerned officials to allocate 100% funds in the next budget for projects nearing completion, adding that the timely completion of ongoing projects would be the top priority in the upcoming budget.
He was presiding over a consultative meeting with the elected public representatives regarding finalization of the Annual Development Programme (ADP) for Kohat Division in the upcoming fiscal year here on Friday. Besides, members of the National and Provincial Assemblies from all five districts of Kohat Division, Advisor to Chief Minister on Finance and senior officials from the Planning & Development Department, the officials of divisional administration also participated in the consultative session.
The progress on ongoing development projects in Kohat Division and the status of fund allocation were reviewed in the meeting. Relevant officials, on this occasion, gave sector-wise briefings on the progress of ongoing development projects in Kohat division.
Furthermore, the meeting was briefed in detail about the proposed projects to be included in the next Annual Development Programme.
The chief minister stated that 80% of the development funds for the next fiscal year will be allocated to ongoing projects; however, new projects based on urgent public needs will also be included in the development program.
"The new projects are being finalized in consultation with the relevant elected public representatives," he remarked. He instructed the officials to prepare the feasibility studies and PC-1s for the new projects in a timely manner, emphasizing that drinking water supply schemes in the southern districts should be given priority in the new development program. Likewise, he directed that all tube well solarization projects be fully funded in the upcoming budget.
Ali Amin Gandapur urged upon the elected representatives to submit timely proposals for the establishment of schools and colleges in rented buildings in their respective constituencies and to pay special attention to healthcare projects in remote areas. He stressed that no district should be without a District Headquarter Hospital, and no tehsil should be without a Tehsil Headquarter Hospital.
Moreover, he directed improvement in service delivery in the existing hospitals. The meeting also discussed matters related to the use of royalty funds for the oil and gas-producing districts of Kohat Division.
On this occasion, the Chief Minister stated that in the next budget, Kohat Division will receive 100% of its royalty share, while special packages will be included in the development programme for the tribes and areas in Kurram that have cooperated with the government in restoring peace.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
12 hours ago
- Business Recorder
Pakistan budget for FY2025-26 in brief
Finance Minister Muhammad Aurangzeb announced Pakistan's federal budget 2025-26 'for a competitive economy' on Tuesday, targeting a modest 4.2% growth for the coming fiscal year, compared to 2.7% expected in the outgoing FY25. 'Because every number is locked, so we have to get money from somewhere to provide relief somewhere,' Aurangzeb said in the post-budget press conference on Wednesday. 'This is a work in progress.' Business Recorder has brought to our readers a 'Budget in Brief' that gives an overview of the federal budget for FY2025-26. The brief provides a glimpse of key priorities and objectives of the federal government, offers a summary of revenue and expenditures, fiscal deficit targets and the corresponding financing plan. Income tax calculator for FY 2025-26 The following document also provides a detailed breakdown of tax and non tax receipts, projected share of provinces under the NFC Award, capital and external receipts, and current expenditures along with its functional classification. Allocations for subsidies, grants and transfers, as well as PSDP are also provided.


Business Recorder
17 hours ago
- Business Recorder
Gulf wealth, US power, and the ME reset
In a world no longer solely defined by military alliances or ideological blocs, power is increasingly shaped by capital, technology, and human development. President Donald Trump's decision to begin his second term with a summit in the Gulf Cooperation Council (GCC) nations is a telling recognition of this shift. It affirms the Gulf's rise not only as a regional powerhouse but as a global actor actively reshaping diplomacy, development, and security. At the epicenter of this transformation stands Crown Prince Mohammed bin Salman (MbS), whose strategic clarity and economic foresight have positioned Saudi Arabia and its allies at the vanguard of a multi-polar world. The summit, hosted in Riyadh, was more than ceremonial—it was a moment of recalibration for the global order. What distinguishes the modern GCC is not just its wealth, but the vision to wield it with purpose. With sovereign funds reaching into the trillions, Gulf nations are redirecting capital from passive holdings to strategic investments—funding artificial intelligence, quantum computing, energy transitions, and educational partnerships with elite American institutions. This is a new form of diplomacy: one where influence is purchased not through arms but by acquiring intellectual property, embedding talent in global research, and co-creating innovation ecosystems. Gulf money is no longer idle — it is building future influence. President Trump, recognizing this shift, lauded the Gulf's transformation as 'the envy of the world,' citing over $1 trillion in projected investments and over $110 billion in bilateral trade in 2024 alone. But beyond the numbers was a message: Gulf leadership is not following the West — it is co-authoring the future with it. Copyright Business Recorder, 2025


Business Recorder
18 hours ago
- Business Recorder
Lower interest payments shrink Pakistan's budget outlay
KARACHI: In a major fiscal relief, the federal government has projected a sharp 16 percent or Rs 1.57 trillion decline in its interest payment obligations for the next fiscal year (FY26), driven by a significant reduction in policy rates. This drop has also contributed to a contraction in the overall federal budget outlay, which shrank from Rs 18.877 trillion of FY25 to Rs 17.573 trillion for the next fiscal year. As the policy rate has reduced significantly 11 percent during the last one year, the government has reduced its estimates for the next fiscal year. According to budget document for the next fiscal year (FY26), the federal government has estimated total interest payments amounted to Rs 8.207 trillion for the next fiscal year down from Rs 9.775 trillion estimated for this fiscal year (FY25), showing a sharp decline of 16 percent Rs 1.568 trillion. Domestically, Pakistan's economy has displayed consistent signs of stabilization and recovery during the last two years i.e. FY24 and FY25, driven by proactive governmental interventions and sound macroeconomic management. Inflation has significantly decelerated, foreign exchange reserves have strengthened, and the exchange rate has stabilized. In response, the State Bank of Pakistan (SBP) initiated a measured easing cycle beginning in June 2024, cumulatively reducing the policy rate by 50 percent or 1100 basis points from 22 percent to 11 percent as of May 2025. According to budget documents, the estimated interest payment for the next fiscal year is also Rs 738 billion lower than the revised estimates of the Rs 8.459 trillion. The major decline has estimated in the domestic interest payments, which are estimated Rs 7.197 trillion for FY26 compared to Rs 8.376 trillion projected in FY25, depicting a decline of Rs 1.542 trillion. As per revised estimates, domestic interest payments for this fiscal year will be Rs 7.907 trillion. External interest payments declined slightly Rs 29.3 billion to Rs 1.009 trillion for FY26 as against Rs 1.039 trillion for this fiscal year. It may be mentioned here that the less than target revenue collection compelled the government to borrow from the domestic banking system to finance the fiscal deficit and the federal government is major borrower of the banking sector. Copyright Business Recorder, 2025