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First Post
2 days ago
- Business
- First Post
Pakistan cuts PoK development budget, raises money for Chinese projects
The Pakistani government has slashed the budget for the PoK by 16 per cent, from 75 billion Pakistani rupees to 63 billion ($222 million), which would leave the region 'handicapped' read more The Pakistani federal government has significantly reduced the developmental budget for Pakistan-Occupied Kashmir (PoK), which includes Gilgit-Baltistan; and raised money for Chinese projects in the country in its national development programme worth a record Rs 4.083 trillion ($14.4 billion). Islamabad cited 'tight control of the International Monetary Fund (IMF)' for its controversial move. Minister for Planning and Development Ahsan Iqbal admitted the country faced 'some limitations with the IMF programme and thus the challenge ahead was to leverage the limited resources to achieve maximum returns from each project.' STORY CONTINUES BELOW THIS AD PoK budget slashed by 16% The Pakistani government has slashed the budget for the PoK by 16 per cent, from 75 billion Pakistani rupees to 63 billion ($222 million). Pakistani newspaper Dawn reported that the region would be 'handicapped by lower allocations'. Ahsan Iqbal said that 'the majority [of allocation] is for water, power and highway sector,' with most of the projects being operated by the Chinese. Budget raised for Chinese projects Islamabad has raised allocation for Diamer-Bhasha Dam as well as the Hyderabad–Sukkur Motorway, both are being developed by the Chinese. In May 2020, the Pakistani government had signed a 442 billion PKR contract with a joint venture of China Power and Frontier Works Organisation (FWO), an engineering arm of the Pakistani Army, for the construction of the Diamer-Bhasha dam. Meanwhile, The M-6 Motorway or the Karachi port-Sukkur–Hyderabad Motorway is being built as a part of the China-Pakistan Economic Corridor (CPEC). Interestingly, Islamabad has allocated Rs1 trillion development budget for the upgradation of the N-25 Highway in Balochistan, which runs from Chaman to Karachi through Quetta. 'Prime Minister Shehbaz Sharif has directed that Rs120 billion ($426.7 million) be allocated for N25 Chaman-Quetta-Karachi Expressway,' Iqbal said at a press conference in Islamabad. This upgradation too is happening under the ambit of the CPEC. However, the Pakistani government earlier claimed its upgradation was being financed by savings from reduced global oil prices. The 2025–26 budget is expected to be presented by Finance Minister Muhammad Aurangzeb in Pakistan's lower house of parliament on June 10, following the Eid Al-Adha holidays. STORY CONTINUES BELOW THIS AD
Business Recorder
2 days ago
- Business
- Business Recorder
PM orders removal of impediments to execution of Diamer Bhasha Dam
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed authorities to remove all obstacles to the timely completion of the $15 billion Diamer-Bhasha Dam, calling it vital for the country's energy security and agricultural self-reliance. The prime minister, while chairing a high-level meeting on water resources, stressed that building new dams was crucial to expand water storage capacity, ensure reliable irrigation, and reduce the risk of floods. 'The country's self-reliance depends on affordable power and agriculture, both of which require increased water storage and efficient usage,' he said, urging officials to prioritise major hydropower projects. 'Cost of Diamer-Bhasha Dam Project has increased 119.21pc' Sharif added that affordable electricity and agricultural growth were key to the country's economic independence, and vowed full government support to advance these priorities. The Diamer-Bhasha Dam – a 4,500-megawatt concrete-filled gravity hydropower project under construction on the Indus River between Khyber Pakhtunkhwa and Gilgit-Baltistan – is expected to rank among the world's largest dams upon completion. It will not only generate electricity but also irrigate 1.2 million acres of farmland, create 16,500 jobs, and extend the operational life of the Tarbela Dam by 35 years. The meeting was attended by federal ministers,AhsanIqbal, Amir Muqam, AzamNazeerTarar, MoeenWattoo, Adviser RanaSanaullah, Gilgit-Baltistan Chief Minister Gulbar Khan, and senior officials. It is pertinent to mention that last month, Planning and Development Minister Ahsan Iqbal said the government would fast-track hydropower projects to counter potential Indian moves to divert water from shared rivers. His remarks came after India put in abeyance its participation in the Indus Waters Treaty of 1960, accusing Pakistan of orchestrating the Pahalgam attack. However, Pakistan vehemently denied the allegations, terming it a false flag operation carried out by India itself. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
Dar for meeting SAP uplift targets in timely manner
ISLAMABAD: Deputy Prime Minister/ Foreign Minister Ishaq Dar chaired the 46th Steering Committee meeting of the Sustainable Development Goals Achievement Programme (SAP). The meeting was attended by key stakeholders, including federal ministers for Inter-provincial Coordination, Planning and Development, Power, Parliamentary Affairs, SAPM Tariq Bajwa; federal secretaries; Members of the National Assembly, and representatives of provincial governments. The meeting focused on reviewing the utilisation of savings and available funds with executing agencies, and streamlining implementation to ensure timely completion of ongoing schemes. 'Resources utilized in best interest of citizens' The DPM/FM emphasised the importance of fully utilising the allocated resources before the close of the current financial year, underscoring the need to deliver results within the stipulated timelines. He directed all stakeholders to expedite efforts to ensure timely development targets. The DPM/FM noted the government's resolve to aligning development efforts with the Sustainable Development Goals (SDGs), for inclusive and meaningful progress that reflects the development priorities of the nation. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Politics
- Business Recorder
Enrolled in govt schools: KP CM decides to provide furniture to students
PESHAWAR: Chief Minister Khyber Pakhtunkhwa, Ali Amin Khan Gandapur has decided that students enrolled in government schools will be provided with furniture under the ongoing educational emergency. He directed the concerned authorities to ensure that the provision of furniture to every government school is completed during the next fiscal year adding that no students in public sector should sit on floor owing to unavailability of furniture. The Chief Minister issued these directives while chairing a meeting here on Sunday to finalize the Annual Development Programme of the upcoming financial year. The meeting was attended by Advisor to the Chief Minister on Finance, Muzammil Aslam, and Chief Secretary Shahab Ali Shah, Additional Chief Secretary for Planning and Development Ikramullah Khan, and administrative secretaries of relevant departments. He further stated that all required funds for the provision of school furniture will be made available on a priority basis. Highlighting the government's commitment to improving basic facilities, the Chief Minister emphasized that access to proper furniture, functional washrooms, and clean drinking water in government schools is a top priority and that there will be no compromise on these essentials. The Chief Minister has also instructed that a special program be launched to improve the quality of education in government schools further directing that modern training be provided to teachers and that such training be made mandatory for all newly recruited educators. During the meeting, detailed discussions were held on development proposals submitted by various departments, including Planning, Communications, Local Government, Education, Health, Irrigation, and Water Supply. Each proposed project was individually reviewed and finalized for inclusion in the upcoming development program. Speaking to the participants, the Chief Minister said the new ADP will be a visionary document, laying the foundation for the province's development agenda over the next four years. The plan will incorporate input from elected public representatives and prioritize projects based on the actual needs of communities across different regions. He added that the ADP would include solid and practical projects serving broad public interests, with the majority of next year's development funds allocated to completing ongoing projects. Projects with over 80% progress will be completed within the next year, while approximately 50% of other ongoing projects are also expected to reach completion in the same period. The Chief Minister stressed that the new ADP will be realistic and aligned with the genuine needs of the public. 'We will not pursue superficial progress while leaving essential needs behind,' he said. 'We will ensure the wise and effective use of taxpayers' money.' Declaring that 'every constituency in the province is my constituency,' the Chief Minister pledged there would be no discrimination in the allocation of development projects. He assured that special attention would be given to uplifting underdeveloped regions. Copyright Business Recorder, 2025
Express Tribune
4 days ago
- Politics
- Express Tribune
K-P vows furniture for all students
In a significant move to bolster public education, Khyber-Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur has announced that all students enrolled in government schools across the province will receive proper furniture during the next fiscal year. The initiative is part of the province's ongoing "education emergency" campaign aimed at uplifting basic educational infrastructure. Chairing a high-level meeting on Sunday to finalize the Annual Development Programme (ADP) for the upcoming financial year, the chief minister directed relevant authorities to ensure that no student in the public sector is left sitting on the floor due to a lack of furniture. He assured that all necessary funds for this initiative would be made available on a priority basis. Emphasizing the provincial government's commitment to improving basic school facilities, Gandapur reiterated that functional washrooms, access to clean drinking water, and adequate classroom furniture are non-negotiable priorities. In a broader push for quality education, the chief minister also announced the launch of a special program to enhance teaching standards in public schools. He directed that modern, skills-based training be made mandatory for all newly recruited teachers, adding that capacity-building for educators is essential for long-term educational reform. The ADP planning meeting was attended by Advisor to the Chief Minister on Finance Muzammil Aslam, Chief Secretary Shahab Ali Shah, Additional Chief Secretary for Planning and Development Ikramullah Khan, and administrative secretaries of various departments. Participants held detailed deliberations on development proposals submitted by departments including Education, Health, Irrigation, Water Supply, Planning, Communications, and Local Government. Each project was individually reviewed for inclusion in the new ADP. Speaking to the attendees, Chief Minister Gandapur described the upcoming ADP as a "visionary document" that would guide the province's development agenda for the next four years. He said the plan would incorporate input from elected representatives and prioritize projects based on the genuine needs of local communities. He further stated that the bulk of next year's development budget would be dedicated to completing ongoing projects, particularly those with over 80 per cent of work already completed. Approximately 50 per cent of other existing projects are also expected to be finalized within the year. "The new ADP will be realistic and rooted in public needs," Gandapur said. "We will not chase superficial progress at the expense of essential services. Taxpayers' money will be used wisely and transparently." Declaring that "every constituency in the province is my constituency," the CM assured that development initiatives would be allocated without political bias, with a special focus on uplifting underdeveloped areas.
