Govt releases Rs257bn for Public Sector Development Programme projects

• The govt has earmarked additional Rs30bn for Naya Pakistan Housing Scheme.
• Economy is growing more than estimated three point 3pc during the current fiscal year, said PTI spokesperson.

The government released on Tuesday Rs257 billion for development projects under the Public Sector Development Programme (PSDP) 2019-20.

The Pakistan Tehreek-e-Insaf (PTI) spokesperson Ahmad Jawad said in a statement that additional Rs30bn have been earmarked for Naya Pakistan Housing Scheme (NPHS). The spokesperson further said that the foreign exchange reserves of State Bank of Pakistan (SBP) has increased by 443 million dollars.

PTI spokesperson added that the government has decided to earmark additional two hundred and fifty billion rupees to address the issue of circular debt. This, he said, will prove to be helpful in addressing the issue of inflation.

According to the spokesperson, the economy is growing more than the estimated three point three percent during the current fiscal year.

Earlier, Advisor to Prime Minster on Finance and Revenue Dr Abdul Hafeez Shaikh said that the government has decided to announce a package of Rs200bn for exporters to promote exports besides increasing production and job opportunities in the country, on Monday.

The advisor said that the SBP had also decided to increase loans for the exporters by Rs100bn. He said the government had also decided not to borrow money from the SBP, due to which Pakistan did not print even a single rupee during last four months.