Development News

KPK Development Projects to Get Rs.418 bn in the Next Financial Year

KPK Development Projects to Get Rs.418 bn in the next Financial Year

Taimur Saleem Jhagra, the Finance Minister KPK presented an annual development program of 418 billion for the province in the financial year 2022-23. It was mentioned that the development projects in the upcoming fiscal year would be funded by the KPK government, different donors, and the central government under the Public Sector development program.

According to the released documents of the KP Assembly, around 275.7 billion of the abovementioned development program has been allocated for KP, which includes 90.7 billion for tribal areas. 93.2 billion will be added for development through foreign funding, including 4.3 billion for tribal areas.

The document budget shows that around 221.2 billion will be utilized to develop 1,710 ongoing schemes. Furthermore, 60.7 billion have been dedicated to 529 new development schemes.

14.8% of the total development budget, i.e., 61.9 billion, will be spent on the road sector. Furthermore, 47.5 billion will be spent on the development program, making it 11.4% of the total. For the development of schools and the educational sector, 17 billion are allocated for various schemes.

The Finance minister also mentioned in his budget speech that 53.6 billion had been dedicated to medical teaching institutes, hospitals, and new medical colleges. Chief Minister of Khyber Pakhtunkhwa Mehmood Khan said that the development budget of KP promises a new era of development and progress.

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