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Sunday, March 03, 2024  
21 Shaban 1445  

Lawmakers to receive more funds in next budget despite economic crunch

Rs89 billion allocations likely for MPs development budget in budget 2023-24
Representational image.
Representational image.

Despite the economic challenges faced in the current financial year, there are indications that a proposal to increase development funds for parliamentarians will be accommodated.

The upcoming budget is expected to propose Rs89 billion for the development budget of parliamentarians, marking a significant increase of Rs19 billion compared to the current year.

In the ongoing financial year, Rs70 billion were allocated for parliamentarians’ development schemes. However, sources suggest that this year’s development budget has been revised upwards to Rs111 billion.

The sources further reveal that the new financial year’s budget includes a proposal to allocate Rs99 billion for water resource projects and Rs92 billion for National Highway Authority (NHA) projects.

For the newly merged districts, the proposed development budget for the upcoming financial year is Rs55 billion, while Rs51 billion has been earmarked for power projects, according to insiders.

Furthermore, the Higher Education Commission is expected to receive a proposed budget of Rs44 billion for development schemes, and Rs32 billion has been allocated for railway projects, as per the sources.

Considering these allocations, the size of the development budget is estimated to reach Rs900 billion in the next financial year.

These proposed budgetary measures indicate a continued emphasis on development initiatives despite the prevailing economic difficulties.

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Budget 2023 24

Parliamentarian development fund

development budget

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