ISLAMABAD: Planning Minister Ahsan Iqbal has deplored a massive decline in allocation of funds for development, stunting economic growth and job creation and has linked clearance of new foreign-funded projects to prior certification for availability of additional rupee cover.

The minister has conveyed to the Economic Affairs Division (EAD) that no new foreign-funded projects would be acceptable for consideration by the Central Development Working Party (CDWP) or Executive Committee of the National Economic Council (Ecnec) unless the Ministry of Finance (MoF) provides a no-objection certificate (NOC) along with allocation of additional local funds to cover foreign loans.

The minister held a review meeting to assess the full-year performance of the Public Sector Development Programme (PSDP) 2024-25, along with the first quarter review of authorisation and expenditures under PSDP 2025-2026. The session focused on the progress of development projects executed by Ministries, Divisions and provinces as well as strategies to streamline and optimise limited development funds for the current fiscal year PSDP.

The minister expressed concern........

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