LAHORE, May 23: Punjab hopes to secure close to Rs10 billion from the Rs146 billion public sector development programme (PSDP) for the next fiscal year of 2002-03 to implement mega development projects in the province.

“We hope that the federal government will provide us the funds needed for starting new mega development projects during the next fiscal year,” Punjab Finance Minister Tariq Hamid told Dawn here on Thursday.

Besides, the provincial government also expects to obtain Rs2-2.50 billion for the ongoing Greater Thal Canal project that will completed at a total cost of Rs31 billion by the year 2007.

Hamid will make a presentation on the schemes the province has plans to start during the next financial year at a meeting of the Annual Plan Coordination Committee (APCC) scheduled to be held at Islamabad on Friday (today).

The federal government has allocated Rs48 billion for the mega development schemes to be undertaken by the provinces themselves. The rest of Rs98 billion will be spent by Islamabad itself on the completion and launch of other inter-provincial or other projects that it deems essential for the country’s economic development.

During the current fiscal year of 200102, the centre has given the Punjab only Rs1 billion (for starting construction of the Greater Thal Canal) from Rs30 billion earmarked for the province-specific schemes in the Rs122 billion public sector development programme.

The mega schemes that the Punjab wants to begin work on in 2002-03 include renovation of its worn out barrages, building bridges and roads, rural electrification and water supply and sewerage in the major cities.

The minister said the Punjab will try to seek Rs5 billion from the federal government for the re-construction of one barrage, Rs2.50 billion for roads and Rs2 billion for bridges.

Besides, he said, “we will persuade the centre to provide funds for electrification of villages, lining of canals and water supply and sewerage in major cities like Faisalabad, Multan, etc”, he said.