The federal government has decided to shut down 168 incomplete development projects across the country, 24NewsHD TV Channel reported on Monday.
According to the sources, the decision was made in compliance with demands from the International Monetary Fund (IMF).
The cumulative worth of these projects stands at a staggering Rs1.1 trillion, according to officials from the Ministry of Planning.
Sources estimate that Rs 850 billion would have been spent on these projects in the upcoming fiscal year had they continued. So far, Rs300 billion has already been spent on these incomplete schemes.
To prevent further financial damage, the government has resolved to permanently discontinue these projects. Lists are being compiled to identify and eliminate non-essential and stalled initiatives, insiders added.
Some of these projects are being shelved due to persistent security concerns, while others have been stuck for years owing to legal disputes and court cases.
Sources further stated that ministries have been advised to prioritise only those development projects they had themselves identified as essential for completion.
Reporter: Waqas Azeem