The inside story of the Provincial Finance Ministers meeting presided over by the caretaker Finance Minister Shamshad Akhtar came out.
Sources say that there is a possibility of a cut of 150 to 200 billion rupees in the development budget. The finance minister while informing the provinces about the cut in the development budget said that the provinces should decide the priorities of their projects keeping in mind the cut.
The Caretaker Finance Minister stressed on closing the wholesale market, retail price gap, also directed to re-prioritize government development projects.
Sources say that the Caretaker Finance Minister also directed to improve services in health, education sector, Chief Minister Sindh, Federal and Provincial Secretary Finance and Planning also participated in the meeting.
According to the sources, the finance minister said that the cut on the development budget is inevitable for the primary budget deficit targets of the International Monetary Fund (IMF).
The Finance Minister directed that the provincial governments meet the expenditure and targets, there is ample scope for reducing expenditure.
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