ISLAMABAD: The federal public sector development programme (PSDP) has been scaled down to a projection of Rs 554 billion for 2022-23 against the budgeted Rs 900 billion with the Extended Fund Facility programme target of Rs 627 billion.

This was revealed in the IMF documents on Article IV Consultations and sixth staff level review uploaded on the Fund’s website.

The PSDP is projected at Rs559 billion for the Year 2022-23. The documents show that PSDP is projected at one percent of GDP for 2021-22 against the budgeted 1.2 percent with the EFF programme target.

The current expenditure for Defence is projected to increase to Rs1.586 trillion in 2022-23 against the projected Rs1.4 trillion in 2021-22. The expenditure on Defence is projected to be 2.6 percent of GDP in 2022-23 which is the same as projected for 2021-22.

The federal government current expenditure are projected to increase to Rs7.688 trillion in 2022-23 compared to the projected Rs7.579 trillion for 2021-22.

Copyright Business Recorder, 2022