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Water, power sector to get highest allocation of Rs93bn

The government is likely to allocate the highest share of Rs94.82 billion to the ministry of water and power in development budget 2012/13, a senior official told The News on Wednesday.

It is expected that the water sector will get an allocation of Rs44.82 billion, out of the total development budget of Rs180 billion for the federal ministries, said the official.

However, another Rs50 billion is likely to be allocated for the power sector projects, out of the total federal share of Rs350 billion.

Pakistan Atomic Energy Commission (PAEC) is likely to get Rs37 billion, the official said, adding that the Planning Commission, which has reduced the number of its projects from 25 to seven only, may be allocated Rs25 billion for the projects under devolved subjects.

The official said that the Pakistan Railways is being proposed to get Rs21 billion.

It is proposed that the Earthquake Reconstruction and Rehabilitation Authority (ERRA) to be provided Rs10 billion.

However, the Annual Plan Coordination Committee (APCC) that was earlier scheduled on April 30 will now meet on May 2 with deputy chairman Planning Commission in the chair to approve the proposed allocations for forwarding to the National Economic Council (NEC) that is likely to take place on May 14.

However, on May 23, the Planning Commission will send the copies of the finalised development budget to all members of the parliament, as in the National Assembly, Dr Hafeez A Shaikh, federal finance minister, will announce the budget 2012/13 on May 25, the official said.

To a question, the official said that the macroeconomic outlook for the current and the next financial year would also be presented in the National Economic Council (NEC) meeting.

Meanwhile, the National Accounts Committee (NAC) will meet on April 26, Thursday, to finalise the size of GDP and growth in various sectors of the economy not only for the current financial year, but also the projections about the growth in all sectors of the economy in the next budgetary year 2012/13.

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