Pakistan govt hikes next fiscal year's federal budget

Islamabad: Prime Minister Shehbaz Sharif-led Pakistan's coalition government has decided to throw open its coffers for massive public spending during the next financial year, finally giving the strongest signal to hold the general elections on time this year, according to a media report on Saturday.

The evidence has been gleaned from the 31 per cent hike in the next fiscal year’s federal



development budget to Rs 950 billion, reported the Express Tribune newspaper.

The decision to increase the Public Sector Development Programme (PSDP) from the earlier proposed Rs 700 billion to Rs 950 billion was taken by Prime Minister Sharif, minutes before the scheduled meeting of the Annual Plan Coordination Committee (APCC) on Friday.