Islamabad, Pakistan (HRNW) — In a significant move to provide public relief, the federal government has decided to slash the national development budget by 100 billion PKR instead of implementing a proposed massive hike in petroleum prices. According to official sources, the government was considering an increase of 55 PKR per liter for petrol and 75 PKR per liter for diesel to manage the fiscal deficit; however, this proposal has been sidelined in favor of budgetary cuts. Under the new plan, the annual development budget will be reduced from 1,000 billion PKR to 900 billion PKR, involving a 10% cut across all ongoing federal development projects. These diverted funds will be reallocated toward emergency relief and public welfare initiatives, ensuring that the surge in global oil prices does not translate into an immediate inflationary burden on the citizens. By prioritizing budget rationalization over fuel price hikes, the government aims to stabilize the national economy while keeping the fiscal deficit within manageable limits without further squeezing the purchasing power of the masses.
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