The federal government has proposed a significant increase in the development budget of Gilgit-Baltistan for the next fiscal year, under which it has been recommended to allocate more than Rs 39 billion for the region. This decision has come at a time when the growing needs of energy, infrastructure and public services in the northern areas are being continuously addressed.
According to the documents, the proposed development budget is 27.32 percent higher than the revised development budget of the current fiscal year. If the original development budget is taken as a basis, the increase is 5.26 percent.
According to economic experts, only an increase in funds is not enough, but effective use of these resources is more important. Gilgit-Baltistan has been facing problems like energy shortage, limited road network and lack of basic urban amenities for many years, due to which the pace of development has been affected.
According to the budget documents, Rs 23 billion has been proposed for block allocation and annual development program. In addition, it has been recommended to allocate Rs 4 billion under the Prime Minister’s special package.
The energy sector has been given special importance. Rs 2.2 billion has been proposed for the Naltar Hydropower project, while Rs 1.71 billion has been proposed for the installation of solar plants at various locations. Experts say that these projects can be helpful in reducing power shortages in the region and promoting business activities.
It has also been proposed to allocate Rs 1 billion for the establishment of a regional grid. According to analysts, if this project is completed, there can be a significant improvement in the problems of power transmission and distribution at the local level.
The budget has also included funds for the construction of roads, drainage, clean drinking water and hospitals. These projects are fundamental for public welfare and regional development.
Economic experts say that Gilgit-Baltistan is of strategic importance for Pakistan’s tourism, mineral resources and regional connectivity. Better infrastructure and energy projects can not only strengthen the local economy but can also have a positive impact on the country.
However, experts emphasize that the success of development projects will depend more on their timely and transparent use than on the volume of funds. If the projects are completed within the stipulated time, the economic picture of Gilgit-Baltistan could change significantly in the next few years.
