Skip to Content

Home / Archive by Category "Business News"

Category Archives: Business News

The Ministry of Planning has once again approached the Finance Division to enhance the Indicative Budget Ceiling (IBC) for the upcoming Public Sector Development Programme (PSDP) 2022–23 by Rs 50. billion. The Finance Division has accepted the earlier request of the Planning Ministry to increase the provisional Indicative Budget Ceiling (IBC) from Rs. 500 billion to Rs. 700 billion, an official source told ProPakistani. According to the source, the Planning Ministry has requested the Finance Division to further enhance the IBC by Rs. 50 billion. However, till the filing of this report, no response was received from the Finance Division. According to the source, an initial budget of Rs. 90 billion has been set aside for the Ministry of Water Resources, with a focus on two major ongoing projects, Diamer Basha and Mohmand Dam. The Minister for Planning has assured the Ministry of Water Resources that he will try to increase the allocation by another Rs. 10 billion, for a total of Rs. 100 billion, the source added. Similarly, for the Power Division, Rs 50 billion has been recommended, and for the Higher Education Commission (HEC), it has been decided that the allocation should be more than Rs. 40 billion, the source added. All PSDP 2022–23 calculations are based on Rs. 700 billion allocations, however, if the Finance division allows a further increase of Rs. 50 billion in the IBC, it will be distributed among various important ministries/divisions, according to the source. Source: Pro Pakistani

Mainly hot and dry weather is expected in most plain areas of the country, while very hot in south Punjab and upper Sindh during the next twelve hours. However, rain-wind Continue Reading »