The federal government reduces the development budget by an extra Rs63 billion.

The Public Sector Development Programme (PSDP) was scaled back by the government on Wednesday by an extra Rs63 billion, reducing the overall development budget for the current fiscal year to Rs837.16 billion.

In an attempt to preserve budgetary stability in the face of persistent regional tensions following the Iran conflict, the Ministry of Finance made the most recent decrease.

It represents the development budget’s second reduction in recent months.

The PSDP was lowered by Rs. 100 billion earlier in March, making the total cumulative cutbacks from the initial Rs. 1 trillion allotted Rs. 163 billion.

According to sources, the most recent cut affected development funds in a number of ministries and divisions, including water resources, education, health, railroads, housing, information technology, and telecommunications.

According to reports, the Water Resources Division has been given Rs106.6 billion under the updated plan, while development funds for lawmakers have been lowered to Rs63.2 billion.

Revisions have also been made to allocations for other sectors. Currently, the Higher Education Commission has been given Rs34.9 billion, the information technology industry has been given Rs18.4 billion, the railroads have been given Rs18.5 billion, and the Ministry of Health has been given Rs11.6 billion.

Azad Jammu and Kashmir and Gilgit-Baltistan have received about Rs67 billion in revised funds, while the combined districts have been given over Rs54 billion.

The development budget for the defence sector has been increased to more over Rs9 billion.