Islamabad: Minister for planning Ahsan Iqbal has said more than half budget will go in repayment of loans.

We have closed more than 118 unnecessary projects, he said this while presiding over an important meeting of Annual Plan Coordination Committee (APCC) here Monday.

Federal minister Khalid Maqbool Siddiqui different federal secretaries, state bank of Pakistan, representatives of provincial governments and others were present in the meeting.

Minister for Planning and Development Ahsan Iqbal has said that fiscal space will be provided in the next PSDP for the projects of strategic importance envisioned under Uraan Pakistan.

Giving a blueprint of the annual PSDP for the next fiscal year at the Annual Plan Coordination Committee meeting in Islamabad today, he mentioned that these projects include Diamer Bhasha Dam, Sukkur Hyderabad motorway project, N-25 in Balochistan and Karakoram highway phase two.

He emphasized the need for greater synergy between the development projects of the center and the provinces for early completion of national priority projects.

Ahsan Iqbal said that projects with foreign component and those nearing completion have also been prioritized in the PSDP. He said allocations for special regions such as AJK, Gilgit Baltistan and the tribal districts have also been prioritized.

He said that an effort has been made to align the development budget with national priorities while staying within limited resources.

Ahsan Iqbal said development budget has been fixed Rs 1000 billion in current fiscal year. A coordinated campaign is needed at national level for stopping tax evasion and expansion of tax net.