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Business Recorder
a day ago
- Business
- Business Recorder
Sindh govt presents Rs1.02trn Annual Development Programme for FY2025-26
Sindh Chief Minister Syed Murad Ali Shah, while unveiling the annual budget in the assembly, presented the Annual Development Programme (ADP) for the fiscal year 2025-26 with a total outlay of Rs1.02 trillion. The provincial ADP is set at Rs520 billion, complemented by district ADP, foreign project assistance (FPA), and federal PSDP grants. 'This ambitious development plan focuses on rehabilitation, infrastructure, social services, and sustainable growth across the province,' the CM House said in a statement. Highlights of ADP 2025-26 Provincial ADP: Rs520 billion District ADP: Rs55 billion Foreign Project Assistance: Rs366.72 billion Federal PSDP: Rs76.28 billion The ADP and the development portfolio focus on the rehabilitation of flood damaged schools and infrastructure to enhance education access, upgradation of healthcare facilities for improved service delivery, promotion of climate-resilient agriculture and irrigation system restoration, and provision of clean drinking water and sanitation to improve public health. Key highlights of Pakistan budget for 2025-26 It also includes strengthening road connectivity and urban infrastructure, including mass transit and safe city projects in Karachi, implementation of green energy initiatives and renewable energy projects, poverty alleviation through nutrition support, community infrastructure, and low-cost housing. Ongoing and new schemes The ADP includes 3,642 schemes with Rs400.5 billion allocated - 82.6% for 3,161 ongoing projects and 17.4% for 481 new initiatives. Special development initiatives have been allocated Rs119.5 billion. Sector-wise allocations Education: Rs102.8 billion Health: Rs45.4 billion Irrigation: Rs84 billion Local government: Rs132 billion Works & services: Rs143 billion Energy (including Thar coal and renewable): Rs36.3 billion Agriculture, livestock, fisheries: Rs22.5 billion Transport and mass transit: Rs59.7 billion Development Strategy The government emphasises completing ongoing projects by allocating 80% of the budget to them, while 20% is reserved for new schemes. 'Special priority is given to flood rehabilitation, energy initiatives, Karachi city projects, and sustainable development goals like clean water and sanitation,' the CM House said. Implementation and monitoring 'The Planning & Development Department will fast-track approval of SDG-related projects, with strict financial release strategies to ensure timely completion.' Sindh government also plans to extend the plan period of schemes expiring in June 2025 by one year to maintain continuity.
Business Recorder
a day ago
- Business
- Business Recorder
Sindh CM Murad presents Rs3.45trn provincial budget for FY2025-26
Sindh Chief Minister Syed Murad Ali Shah presented the provincial budget for the fiscal year 2025-26 on Friday. The budget size for FY26 is set at Rs3.45 trillion, representing a 12.9% increase compared to the estimated Rs3.05 trillion for the previous year (2024-25). 'This budget will play a key role in unleashing Sindh's untapped potential,' Murad Ali Shah said. 'It prioritises inclusive, sustainable, and robust development.' Key highlights of Pakistan budget for 2025-26 The chief minister expressed commitment to social improvement, modernisation of infrastructure, and economic independence. The provincial government allocated Rs1.02 trillion for development in FY26. Salaries and pensions Salaries for employees from Grade 1 to 16 increased by 12%, while Grade 17 to 22 employees to receive a 10% salary increase. Pensions Meanwhile, the provincial government increased pensions by 8% for FY26. Current expenditures Sindh government allocated Rs2.15 trillion for current expenditures, up 12.4% from last year's Rs1.92 trillion. This increase is driven by inflation, hospital and university grants, employee relief allowances, and rising pension obligations, according to a statement from the CM House. Education Education budget for Sindh province increased by 12.4% to Rs523.73 billion, making up 25.3% of total current expenditures. Primary education budget raised from Rs136.2 billion to Rs156.2 billion. Secondary education budget for the province increased from Rs68.5 billion to Rs77.2 billion. The provincial government also announced to hire 4,400 new teachers and educational staff. Other initiatives proposed included establishment of four IBA community colleges, dedicated budgets and expenditures for over 34,100 primary schools, and Rs2 billion for Sindh Educational Endowment Fund to support underprivileged and talented students. Post-budget press briefing: govt warns of Rs500bn more revenue steps The budget for differently-abled persons development programme increased from Rs11.6 billion to Rs17.3 billion to provide assistive devices, scholarships, and partnerships with NGOs, the CM announced. Health Health budget for the province increased by 8% from Rs302.2 billion to Rs326.5 billion. As per the details, Rs146.9 billion will be given to health institutions and units as grants, while Rs19 billion has been allocated for Sindh Institute of Urology and Transplantation (SIUT). Other allocations in the health sector included Rs16.5 billion for Peoples Primary Healthcare Initiative (PPHI), Rs10 billion allocated for a new hospital in Larkana, while ambulance service and mobile diagnostic units to be expanded to rural areas. Annual Development Programme (ADP) Sindh government announced to cut the Annual Development Programme (ADP) for FY26 by 20% to Rs520 billion, citing expected reduction in federal transfers. It also announced 475 new schemes for flood-affected areas, renewable energy, underdeveloped districts, clean water, and sanitation. ADP allocations include: Rs99.6 billion for education Rs45.37 billion for health Rs73.9 billion for irrigation Rs132 billion for local governments Karachi Sindh government announced 'special focus' on Karachi's development, vowing to bring improvement in major projects related to infrastructure, roads, sewerage, and water supply. The provincial government also announced expansion of urban transport, with introduction of 50 electric buses along with 100 more electric buses by August 2025. Regarding the progress in BRT projects in the metropolitan city, the government informed that Yellow Line was nearing completion, while Red Line was over 50% complete. Other announced for the city included expansion of Karachi Safe City Project with AI-enabled CCTV cameras, upgrades to Korangi Causeway Bridge and Shahrah-e-Bhutto, and new schemes for restoration of historic sites, improvement of business areas, and construction of major roads. Digital governance Sindh government also announced initiatives for digital governance, including the launch of a central KPI monitoring dashboard for real-time project tracking; land records to be moved to blockchain, and enhancing transparency and ease of transactions. It launched a digital birth registration system, aiming for 100% coverage by 2028. 'The system will be integrated with health and education databases,' the CM House said. Agriculture Sindh government announced to launch the Benazir Hari Card that will provide subsidies and modern machinery to over 200,000 farmers. Budget 2025-26: Pakistan targets 4.2% growth as Aurangzeb presents proposals 'for a competitive economy' It also announced subsidies for drip irrigation to promote environmentally safe farming, along with the announcement of cluster farming projects under public-private partnerships. Feasibility study underway for establishing Sindh Cooperative Bank to offer interest-free loans to progressive farmers, CM Murad said. Social welfare & empowerment Education budget to be decentralised to the school level Headteachers to get direct funds for operational expenses Improved facilities and increased stipends for persons with disabilities New rehabilitation centers to be established Announcement of youth development centers across Sindh 'These will offer skills training, career counseling, and digital literacy programme,' the CM said. Tax relief The provincial government announced to remove five taxes to reduce citizens' financial burden, as it also proposed to abolish professional tax and entertainment duty. It announced reduction in motor vehicle tax, and introduction of negative list system to simplify sales tax. Other announced relief measures
Express Tribune
14-02-2025
- Business
- Express Tribune
Stocks decline for third session in a row
Listen to article KARACHI: Pakistan Stock Exchange (PSX) on Friday closed down by over 450 points – its third consecutive session in the red – as institutional profit-taking in blue-chip stocks and global market jitters weighed on market sentiment. Investor confidence remained shaky amid fears of US tariff retaliation under President Donald Trump's policies, coupled with declining foreign exchange reserves due to debt repayments by Pakistan and uncertainty about the upcoming International Monetary Fund (IMF) programme review. While the KSE-100 index initially surged 918 points, late-session selling erased gains, reflecting cautious investor behaviour ahead of the weekend. Stocks closed lower amid institutional profit-taking in blue-chip shares on jittery global equities over Trump's reciprocal tariffs on multiple trading partners, said Ahsan Mehanti of Arif Habib Corp. Rupee instability, falling foreign currency reserves due to debt repayments, foreign fund outflows and uncertainty about the outcome of IMF review next month played the role of catalysts in bearish close at the PSX, he said. At the end of trading, the benchmark KSE-100 index posted a decline of 478.78 points, or 0.43%, and settled at 112,085.30. It was the third consecutive lower close for the KSE-100 index that trimmed gains to 1.6% week-on-week (WoW), wrote Arif Habib Limited (AHL) in its report. Some 39 shares rose while 59 fell with Lucky Cement (+10%), Fauji Fertiliser Company (+0.67%) and Lucky Core Industries (+6.02%) contributing the most to index gains. Pakistan Petroleum (-3.01%), Pakistan State Oil (PSO, -4.22%) and Oil and Gas Development Company (OGDC, -2.21%) were the biggest index drags, it said. Despite the fall, the KSE-100 maintained the 112k level while heading into the weekend, "which bodes well for the upside next week". Friday's gains failed to cross 113.5k with the index touching the intra-day high at 113,482, which keeps downside moves open. "112k-113.5k are the key floor and ceiling levels to watch for next week; bias is for the index to surpass the ceiling and set up tradable moves," AHL added. Topline Securities, in its market review, wrote that the KSE-100 index opened on a positive note and rose to the intra-day high of 918 points. However, jittery investors came in to sell during closing hours of the day and the index dropped to finish trading at 112,085, down 0.43%. Top positive contribution to the index came from Lucky Cement, Fauji Fertiliser Company, Lucky Core Industries and National Bank of Pakistan (NBP), which cumulatively contributed 486 points. On the other hand, Engro Holdings, Pakistan Petroleum, PSO, OGDC and Meezan Bank lost ground, weighing the index down by 583 points, it said. Traded value-wise, PSO (Rs1.97 billion), NBP (Rs1.21 billion), DG Khan Cement (Rs1.04 billion), Hubco (Rs1.02 billion), The Bank of Punjab (Rs792 million) and Lucky Cement (Rs733 million) dominated trading activity. Hubco, through a notice to the stock exchange, announced that Hub Power Holdings, a wholly owned subsidiary of Hubco, through its newly incorporated subsidiary Hubco Green, was entering into a new line of business pertaining to establishing and operating electric vehicle charging infrastructure, including but not limited to importing, manufacturing and assembling charging accessories. In that regard, Hubco Green is entering into a collaboration agreement with PSO for the installation of electric vehicle charging infrastructure at numerous PSO locations across Pakistan, it said. Overall trading volumes at the PSX were recorded at 457.05 million shares compared with the previous session's tally of 596.7 million. The value of shares traded during the day was Rs23.2 billion. Shares of 432 companies were traded. Of these, 135 stocks closed higher, 237 fell and 60 remained unchanged. The Bank of Punjab was the volume leader with trading in 70.1 million shares, losing Rs0.76 to close at Rs11.10. It was followed by Sui Southern Gas Company with 32.8 million shares, losing Rs3.54 to close at Rs32.70 and Lotte Chemical with 23.4 million shares, losing Rs1.03 to close at Rs20.20.
