Karachi, May 21, 2012 (PPI-OT): Country’s top authorities and all provinces except Punjab have proposed the government to raise the allocation of Federal Public Sector Development Program (PSDP) in the range of Rs 20 to 45 bn, thus increasing it to up to Rs 395 bn from Rs 350 bn decided earlier for FY13.
According to Alfalah Securities Limited, the stakeholders have also proposed that projects such as Chashma‐3 and Chashma‐4 may be kept outside PSDP and separate companies should be formed to manage their funds. Upon approval, the government would have an additional amount of Rs 46 bn, which would be used to meet the demand of provinces and agencies. Out of the additional amount, Rs 12 bn may be allocated for Diamer‐Bhasha Dam, Rs 5 bn for National Highway Authority (NHA), Rs 5 bn for Higher Education Commission (HEC), Rs 8 bn for Pakistan Railways etc. Alfalah Securities Limited expects an increase in the allocation of PSDP would bode well for the cement industry since the demand of cements would increase and would result in increased cement off‐takes for local manufacturers.