The federal government has announced to introduce ‘PSDP Private Sector Development Program Plus’ plan over the directives of Prime Minister Imran Khan.
The federal government has taken a decision on principle for increasing the volume of the private sector in the development process of the country to expedite efforts for achieving social and economic targets by ending the shortage of funds in completion of the government projects.
Following the decision, the federation announced to introduce ‘PSDP Plus’ project as the premier has forwarded the draft plan to the concerned ministries for reviewing the program.
Under the PSDP Plus program, the authorities will start its implementation on different projects underway across the country besides encouraging private sectors to take part in the government-run development projects. The newly-launched program would expedite the pace of financial and economic process in the development projects and also assist the government for ending the shortage of funds through a public-private partnership.
After the successful implementation of the program, the Gross Domestic Product (GDP) will be increased up to 6.7 per cent in the result of the development expenditures.
The federal authorities have marked 53 major projects from different sectors to be run under the PSDP Plus which include maritime affairs,aviation, logistics, energy, tourism, information technology (IT), real state, infrastructure and social sectors. The cost of the projects is estimated at around Rs 5.5 trillion which would be completed in the next three years.
The PSDP Plus initiative will also cut the volume of financial allocations from the federal government for completing the pending development projects.
