ISLAMABAD: Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal said on Wednesday that the incumbent government is doing its best to create a balance between available resources and existing expenditure to avoid debt quagmire. “Without creating this balance, there will be no way out if we get stuck,” the minister said in a televised address during a meeting he chaired on projects implemented under the Public Sector Development Program (PSDP). He said if the development budget relies on borrowed money, it is everyone’s responsibility to ensure that it is used transparently without leakage or misuse. Ahsan Iqbal directed all accountants to exercise zero tolerance towards any leakage or misuse of resources allocated for development projects. “The funds must be used for the intended purpose,” he emphasized. Regarding the inclusion of development projects in the next PSDP, the Planning Minister has directed relevant authorities to review the development portfolio and prioritize “advanced stage” projects that have completed 70 percent of their work. He further stated that national priority projects with “high impact” should be given second priority and all “low priority projects” should be curtailed unless the necessary resources are available. He said if the policies introduced by the PML-N government in its previous terms were to continue, the country’s development budget would now be around Rs 3,000 billion, compared to the current PSDP size of around Rs 1,100 billion against the ministry’s demands of Rs. 29,000 billion Rs. . He criticized that nearly 40 percent of the federal government’s total PSDP allocations were diverted to provincial street-level projects in 2018-22, compared to just 14 percent in 2013-18. He pointed out that due to mismanagement and inefficiency, the previous government allowed undue emphasis on street/local level projects, consuming 40 percent of the share, leaving the country with only 60 percent of resources to implement projects of national importance and repay debts. He said that the country is in dire need of judicious use of available resources to put it on the path of sustainable development and prosperity.
