Rs3.2 billion Allocated for Industries, Commerce, Investments and Energy sectors

Under Industries Commerce and Investment program Rs 3.134 billion will be spend for six new scheme.

LAHORE: For Industries, Commerce, investments sector, Punjab Government in provincial Budget 2013-14 has allocated Rs3.202 billion. The allocation is 1.14 percent of the total development budget of Rs 290 billion, however comparing to previous year allocation of Rs350 million, the allocation increased 815 percent for the sector this year. For energy sector, allocations for the fiscal are 20.431 billions, up 104 percent to previous year’s allocations of Rs 10 billion.

For tackling energy crisis, Punjab government previous year started 5 schemes, for which government in this fiscal has allocated Rs 4.555 billion as ongoing schemes. Rs 15.875 billion have been allocated for 4 new energy projects which will be kick off this year. Major energy project includes creation of energy development fund with Rs 8 billion, construction of 120Mw Taunsa Barrage at Kotaddu through private sector with initial allocations of Rs 75 million. For subsidy on solar tube wells, government has allocated Rs 7.5 billion for fiscal 2013-14.

The targets set by Punjab government in energy sector for fiscal 2013-14 under renewable energy development sector investment program includes construction of hydropower stations at Marala (7.64), Pakpattan (2.82MW), Deg outfall (4.04MW), Chianwali (5.38MW) and Okara (4.16MW). Second target is the feasibility of establishing dedicated coal based power projects at various industrial estates of Punjab.

Punjab government in budget aimed to utilize all available sources in the province to provide affordable energy to all segments of provincial economy through increase in generation and conservation of energy has been delineated to maximize expansion of power generation capacity and infrastructure in the province through participation of both public and private sectors. The province which consumes 68 percent of total electricity generated in the country and is coping with severe energy shortfalls that have adversely hit its targets for annual GDP growth rates of 6 percent for many years. it was decided previous year that all industrial estates would be facilitate with power generation capacity of 50 MW via public private partnerships to cop energy shortfalls, till date no concrete measure in this regard has been taken.

Under Industries Commerce and Investment program, Rs 68 millions out of total Rs 3.202 billion will be spend on seven ongoing schemes, where as Rs 3.134 billion will be spend for six new schemes and out of this figure major chunk, i.e. Rs 3 billion will be spend on establishment of different industrial estates.