The national food security and industry sectors appear to have received limited space in the proposed budget for the next fiscal year, with only Rs7.2 billion recommended against a combined requirement of Rs117 billion.
According to budget documents, Rs3.2 billion has been proposed for the Ministry of National Food Security, while Rs4 billion is likely to be allocated to the Ministry of Industries and Production.
The combined requirement of the National Food Security and Industries and Production sectors stands at Rs117 billion for the new fiscal year.
However, only Rs7.2 billion has been proposed for both sectors in the upcoming budget, raising questions over whether food security, agriculture and industrial development projects have been ignored.
National Food Security to get Rs3.2bn
Under the proposed budget, the Ministry of National Food Security is expected to receive Rs3.2 billion.
According to documents, Rs2.27 billion has been allocated for ongoing food security projects, while only Rs92.5 million has been proposed for new projects.
Limited funds for agriculture, livestock
The agriculture sector includes several important projects, including commercial olive cultivation and the production of certified potato seeds. Other proposed schemes include camel milk production and livestock disease monitoring projects.
However, the funds allocated for these initiatives remain limited compared to the sector’s overall requirement.
Industries and Production to receive Rs4bn
The Ministry of Industries and Production is expected to receive Rs4 billion in the proposed development budget. Documents show that Rs1.52 billion has been proposed for an industrial park on the land of Pakistan Steel Mills.
Only Rs50 million is likely to be allocated for the Hub Special Economic Zone.
The proposed budget includes Rs200 million for Industrial Design and Automation Centers in Karachi, Lahore and Sialkot. A separate allocation of Rs78 million has been recommended for the Sialkot Sports Goods Development Center.
The documents also propose Rs257.2 million for increasing the capacity of the engineering industry.
SME and industrial support schemes
The proposed budget also includes Rs300 million for SME facilitation centers. Another Rs300 million has been proposed for 1,000 industrial setting units.
In addition, Rs700 million is likely to be allocated for the revival of the precious stones sector.
The sharp difference between the Rs117 billion demand and the proposed Rs7.2 billion allocation highlights a major funding gap for two key economic sectors.
The limited allocations may affect the pace of food security, agricultural productivity, industrial development and export-support initiatives in the next fiscal year.
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