Fiscal priorities: Govt trims Atomic Energy Commission’s budget by Rs800m
Sino-Pak economic corridor gains attention of PML-N decision makers.
Sino-Pak economic corridor gains attention of PML-N decision makers. PHOTO: FILE
ISLAMABAD:
The federal government has proposed one-tenth of next year’s development budget for Pakistan Atomic Energy Commission (PAEC), while allocating Rs113.5 billion to the National Highway Authority, mainly to carry out work on the Sino-Pak economic corridor that stretches along an area of 2,376 kilometres.
The total cost of the economic corridor, which is aimed at giving China access to the Arabian Sea via Pakistan, has been estimated at Rs746.4 billion. But for the first fiscal year 2014-15 the government has proposed Rs49 billion or 9.3% of the total proposed federal development budget of Rs525 billion.
According to the proposed Public Sector Development Programme for the fiscal year 2014-15, the 959 kilometre long Karachi-Lahore Motorway will receive Rs30 billion for land acquisition for next year out of its total land cost of Rs60.6 billion. China will bear the construction cost.
The 278 km long Lahore-Abdul Hakeem-Khanewal section’s total cost is Rs41.4 billion and its next year’s allocation is Rs6 billion. The road will be developed on Build-Operate-Transfer basis and Pakistan’s share will be 30%.
Similarly, the 387 kilometre-long Multan-Sukkur section’s total cost is Rs246 billion and the government has allocated Rs5.5 billion. While 90% of the total cost or Rs221 billion will be borrowed from China.
The 296 kilometre long Sukkur-Hyderabad road will be built on a BOT basis aslo and the government’s 30% share amounts to Rs44.4 billion. It has allocated Rs3 billion for the next year.
The 460km long Raikot-Havelian-Islamabad section’s total cost is Rs354 billion. Some 90% of it will be borne by Chinese financing and the government has allocated Rs4.5 billion for the next year.
Meanwhile, the Atomic Commission will get Rs51.5 billion for the next fiscal, which is Rs800 million less than this year’s allocation but yet makes up 10% of the total federal development budget.
So far, Rs143 billion have been spent on these nuclear projects. The projects will require Rs12 billion more in financial year 2015-16 to finish the work.
For Karachi Nuclear Coastal Power Projects, known as K2 and K3, the government has proposed Rs12.3 billion for the next fiscal. The total cost of these projects is Rs958.7 billion.
A major amount of Rs36 billion has been allocated under Special Federal Development Programme aimed at bringing an end to disparities among various provinces.
Interestingly, no funds have been earmarked for Punjab while major share of Rs15 billion will go to Balochistan, Rs8 billion to Sindh, Rs4 billion to Khyber-Pakthunkhwa (K-P), Rs4 billion to Fata, Rs3 billion to AJK and Rs2 billion to Gilgit-Baltistan.
For achieving the millennium development goals Rs12.5 billion have been proposed for the next fiscal year. A sum of Rs27.7 billion has been set aside for meeting deficiencies in under-funded projects in the next fiscal year.
A sum of Rs39.4 billion has also been given to the ailing Pakistan Railways aimed at building infrastructure to transport coal from Sindh to rest of the country for coal-fired power projects.
For the power sector an amount of Rs70.7 billion or 13.5% of the budget has been proposed, which is mainly for carrying out work on the ongoing schemes.
The Higher Education Commission will receive Rs19.3 billion which is higher than this year’s allocation.
The federal government has proposed one-tenth of next year’s development budget for Pakistan Atomic Energy Commission (PAEC), while allocating Rs113.5 billion to the National Highway Authority, mainly to carry out work on the Sino-Pak economic corridor that stretches along an area of 2,376 kilometres.
The total cost of the economic corridor, which is aimed at giving China access to the Arabian Sea via Pakistan, has been estimated at Rs746.4 billion. But for the first fiscal year 2014-15 the government has proposed Rs49 billion or 9.3% of the total proposed federal development budget of Rs525 billion.
According to the proposed Public Sector Development Programme for the fiscal year 2014-15, the 959 kilometre long Karachi-Lahore Motorway will receive Rs30 billion for land acquisition for next year out of its total land cost of Rs60.6 billion. China will bear the construction cost.
The 278 km long Lahore-Abdul Hakeem-Khanewal section’s total cost is Rs41.4 billion and its next year’s allocation is Rs6 billion. The road will be developed on Build-Operate-Transfer basis and Pakistan’s share will be 30%.
Similarly, the 387 kilometre-long Multan-Sukkur section’s total cost is Rs246 billion and the government has allocated Rs5.5 billion. While 90% of the total cost or Rs221 billion will be borrowed from China.
The 296 kilometre long Sukkur-Hyderabad road will be built on a BOT basis aslo and the government’s 30% share amounts to Rs44.4 billion. It has allocated Rs3 billion for the next year.
The 460km long Raikot-Havelian-Islamabad section’s total cost is Rs354 billion. Some 90% of it will be borne by Chinese financing and the government has allocated Rs4.5 billion for the next year.
Meanwhile, the Atomic Commission will get Rs51.5 billion for the next fiscal, which is Rs800 million less than this year’s allocation but yet makes up 10% of the total federal development budget.
So far, Rs143 billion have been spent on these nuclear projects. The projects will require Rs12 billion more in financial year 2015-16 to finish the work.
For Karachi Nuclear Coastal Power Projects, known as K2 and K3, the government has proposed Rs12.3 billion for the next fiscal. The total cost of these projects is Rs958.7 billion.
A major amount of Rs36 billion has been allocated under Special Federal Development Programme aimed at bringing an end to disparities among various provinces.
Interestingly, no funds have been earmarked for Punjab while major share of Rs15 billion will go to Balochistan, Rs8 billion to Sindh, Rs4 billion to Khyber-Pakthunkhwa (K-P), Rs4 billion to Fata, Rs3 billion to AJK and Rs2 billion to Gilgit-Baltistan.
For achieving the millennium development goals Rs12.5 billion have been proposed for the next fiscal year. A sum of Rs27.7 billion has been set aside for meeting deficiencies in under-funded projects in the next fiscal year.
A sum of Rs39.4 billion has also been given to the ailing Pakistan Railways aimed at building infrastructure to transport coal from Sindh to rest of the country for coal-fired power projects.
For the power sector an amount of Rs70.7 billion or 13.5% of the budget has been proposed, which is mainly for carrying out work on the ongoing schemes.
The Higher Education Commission will receive Rs19.3 billion which is higher than this year’s allocation.