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News | invest.pk

Centre looks to restructure provincial projects to free up Rs150bn

December 15, 2023

The federal government has decided to take chief ministers into confidence before capping or rearranging more than 335 federal-funded provincial projects to create a space of almost Rs150 billion during the current fiscal year. The move is aimed at reducing federal expenditures to successfully complete the final review of the ongoing $3bn IMF programme slated for February with minimum additional taxation measures. Sources told Dawn that the federal government had called a meeting of chief ministers, provincial finance ministers and chief secretaries with federal ministers for finance and planning on Thursday, but the meeting had to be put off because of the unavailability of two provincial chief ministers. The huddle is again being arranged for Friday (today) or Monday to be presided over by caretaker Finance Minister Dr Shamshad Akhtar, who will also be having consultations with the Ministry of Planning today.