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ISLAMABAD: The government has restricted financing for new projects under the Public Sector Development Programme (PSDP) to just two per cent for the current year, in line with conditions of the ongoing Extended Fund Facility (EFF) of the International Monetary Fund (IMF).

This was disclosed by Planning and Development Secretary Awais Manzur Sumra while briefing the Senate Standing Committee on Planning and Development, which met under the chairmanship of Senator Quratulain Marri.

Mr Sumra said the IMF had demanded that new development projects be limited to 10pc of the PSDP to maintain fiscal discipline, given the already large and longstanding project portfolio.

Accordingly, the government decided to prioritise ongoing projects of national importance for early........

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