SIFC takes action to save Rs 149b
Islamabad: The Special Investment Facilitation Board approved a proposal to scrap 76 provincial projects worth Rs 121 billion and freeze further spending on MPs’ programs and prime minister’s initiatives, aligning federal spending with constitutional obligations. The SIFC decision will save the federal government Rs 149 billion during the current financial year – in a move that is significant in correcting the federal government’s earlier mis-prioritization. However, despite the decision, the federal government would continue to spend on 247 provincial nature projects and would need another nearly Rs 800 billion over the next few years to complete work on these projects.
