ISLAMABAD, March 23: The government has convened meetings of the Priorities' Committee early next month to finalise next year's development programmes by April 24 for approval by the Annual Plan Coordination Committee (APCC) in the first week of May, official sources told Dawn.

The meetings will be held on a daily basis from April 2 and continue till April 14.

The priorities' committee is a forum, comprising senior officials of the finance ministry, the planning commission and heads of the relevant ministries and considers every project to be included in the Public Sector Development Programme (PSDP) given its national importance, expected output and availability of funds in a specific year.

The meetings of the priorities committee would be held with the line ministries and provinces to finalise sector-wise financial allocations for the PSDP-2007-08, the sources said.

These sources said the ministry of finance had issued letters in November to all ministries, divisions, provincial governments and autonomous bodies to submit details of their funding utilisation and revised estimates for the year along with their next year requirements.

The demands for next year have also been received by the federal government. In a fresh order, the line ministries have been asked to submit their final utilisation status of allocations for the current year by May 15.

The agencies have also been asked to provide information about surplus funds still lying unutilised and whether they would surrender it or would be consuming it before the close of the financial year on June 30. This would become the basis for allocation of funds for the next year.

They have also been advised to submit estimates of additional funds they may require during the current fiscal year so that unutilised funds from other sectors or slow-moving projects could be diverted to them for full utilisation of allocated funds during the current year’s PSDP.

Based on these estimates, the sources said, the planning commission would make readjustments in the current year's development allocations.

Normally, the line ministries and provincial governments present very bulky demands for the next year’s development budget but the ministry of finance and planning commission keep on fighting till the end and cut down on demands keeping in mind the resource availability.

The centre has also directed the ministries, provincial governments and autonomous bodies to submit details of their foreign exchange requirements for next year, along with loan grants in aid or commodity aid commitments as their lump sum demands would not be considered in finalisation of the foreign exchange budget for 2007-08.

The sources said the meeting of the annual planning coordination committee is expected to be held in the first week of May to firm up recommendations for the National Economic Council (NEC) about the development budget.The NEC, the sources said, is expected to meet in the second or third week May. NEC is the highest economic decision making body that finally approves development budgets every year.