ISLAMABAD: The government has decided to allocate Rs 450 billion for Public Sector Development Program (PSDP) in the next budget 2013-14. Advisor to PM on Finance Dr Shahid Amjad Chaudhry chaired a high-level meeting to finalise arrangements for upcoming budget preparation in which he was told by the economic managers that the size of next PSDP will be standing at Rs 450 billion for upcoming budget.
Soon after assuming reins of power, upcoming PM Nawaz Sharif will reconstitute National Economic Council (NEC) as first step after swearing in by the cabinet. The Annual Plan Coordination Committee (APCC) might not meet this time as there has been no constitutional requirement for holding meeting of this forum but the NEC approval on exact size of PSDP as well as macroeconomic figures is pre-requisite in accordance with 1973 Constitution.
The next budget will be unveiled into the elected National Assembly probably between June 12 to 14, 2013 as the incoming government will incorporate its priorities before announcing the next budget.