Development spending 61% below target | The Express Tribune

ISLAMABAD: The interim government spent Rs191 billion on development projects during the first seven months of this fiscal year – a sum that is over Rs300 billion or 61% less than the target and underscores the implications of tough economic conditions. The Ministry of Planning reported on Tuesday that the development expenditures amounted to just […]

CPEC development strengthens building of Sino-Pak relations | The Express Tribune

LAHORE: In the Central Conference on China’s Foreign Affairs held in Beijing on December 27-28, 2023, President Xi Jinping delivered a keynote speech in which he systematically reviewed the historic achievements and valuable experience of major-country diplomacy with Chinese characteristics in the new era, gave a profound exposition on the international environment and historical mission […]

Development spending remains low priority | The Express Tribune

ISLAMABAD: The federal government spent only Rs76 billion on development projects in the first four months of this fiscal year, equivalent to one-fourth of the authorised funds by the Planning Ministry. Development expenses remained at Rs76 billion, contrasting with the Rs301 billion authorisation under the Public Sector Development Programme (PSDP) 2023-24, as stated by the […]

Hajj Fund: enabling savings with economic development | The Express Tribune

KARACHI: Hajj is the fifth pillar of Islam and is considered obligatory for every Muslim, once in a lifetime, who can afford expenses of the journey and has the required physical strength. Hajj is considered a physically and economically demanding journey that requires proper planning. At the societal level, Hajj not only builds up the […]

Development spending halts | The Express Tribune

ISLAMABAD: Pakistan’s federal development spending has come to a grinding halt as a mere Rs57 billion, or equal to 6% of annual budget, was spent during the first quarter of this fiscal year, which delayed the execution of some crucial projects but compensated for fiscal slippages in other areas. Half of the total amount, or […]

Airbus unveils new wing development centre for next generation aircraft

The facility was opened by Nusrat Ghani, UK Minister of State at the Department for Business and Trade. — Air Bus Airbus has unveiled a new wing development centre to further improve the performance of its wings for next generation aircraft amid competition with Boeing which researches an elongated, ultra-light concept called Transonic Truss-Braced Wings. […]

After 13-year hiatus, Pakistan to get USAID fund for development

Economic Affairs Division Secretary Dr Kazim Niaz and USAID Mission Director to Pakistan Reed Aeschliman signed a new five-year bilateral on June 7, Wednesday. — Twitter/eadgop  The United States Agency for International Development (USAID) on Wednesday announced $445.6 million in grant to support socio-economic development in Pakistan. Economic Affairs Division Secretary Dr Kazim Niaz and […]

Govt prioritises national development with Rs1,100bn budget

The federal government has approved a development budget of Rs1,100 billion for the fiscal year 2023-24, with Rs950 billion allocated for the Public Sector Development Programme (PSDP) and Rs150 billion for public-private partnership, announced Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Friday.  The increase in budget size reflects the government’s priority for […]

ECNEC approves Rs1.2tr development projects | The Express Tribune

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Wednesday gave its approval to a comprehensive package of development projects amounting to over Rs1.2 trillion on Wednesday. During the meeting chaired by Finance Minister Ishaq Dar, one of the major projects endorsed was the 48-megawatt Shunter Hydropower Project in the Neelum Valley, which […]

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