Govt to prioritise high-value projects as development budget stands at Rs880bn only: Ahsan Iqbal

Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal on Monday said the government will have to prioritise high-value projects, as only Rs880 billion has been allocated for development in the upcoming budget for the fiscal year 2025-26. The government has adopted austerity measures for the upcoming budget — set to be announced on June 10 — in line with the demands of the International Monetary Fund (IMF) to implement stricter spending policies and raise revenues to reduce the budget deficit and improve debt sustainability, as part of its $7 billion loan programme. The global money lender also expects Pakistan to achieve a 3.6 per cent economic growth with 7.7pc inflation next year.