Govt to slash development expenditures

KARACHI: The government has decided to curtail its development expenditures in order to decrease fiscal deficit following the flood-spawned situation in the country, Geo News reported Thursday.

According to sources privy to Finance Ministry, the government slashed the development expenditures of federal government from Rs280 billion to Rs150 billion; also, provinces’ development expenses have also been cut down 30 to 40 percent.

Meantime, Balochistan’s development expenditures worth Rs26.75 billion were as not touched. Before this budget cut, the overall development budget of the provinces was Rs330 billion.