Federal government released Rs 257 billion under PSDP for mega projects across the country
ISLAMABAD - The Ministry of Planning Development and Reforms has so fare given authorization for the release of Rs257.167 billion including Rs53.62 billion foreign aid for various ongoing and new development projects under Public Sector Development Program (PSDP) 2019-20 as against the total allocation of Rs701 billion.
According to latest data of PSDP, released by the Planning Commission of Pakistan, the authorities concern were sanctioned to release Rs113.950 billion including Rs7.88 billion foreign aid for developmental projects of different federal ministries against the total allocation of Rs303.66 billion for current fiscal year.
Meanwhile, Rs85.430 billion was released for the development projects of different corporations and government has released Rs80.209 billion for National Highway Authority (NHA) out of Rs154.966 billion allocated in current year's development agenda. Under the development program of current fiscal year, an amount of Rs26.78 billion have been released for Security Enhancement against Rs32.5 billion budgeted allocation.
Under PSDP 2019-20, the government has given the authorization of release of Rs10.640 billion for Azad Jammau and Kashmir including Rs854.610 million of foreign aid component as against the allocation of Rs27.284 billion. An amount of Rs6.571 billion was released for Gilgit Baltistan as the government had earmarked Rs17.585 billion of different developmental projects of that area.
In order to enhance the water resource development, the government has given the authorization to release of Rs30.21 billion for different water resource development projects against the total allocation of Rs85.72 billion during current fiscal year.
Authorization to release of Rs15.994 billion given for Cabinet Division as against the total allocation of Rs39.98 billion for current fiscal year and an amount of Rs11.51 billion released for Higher Education Commission as against the total allocation of Rs29.046 billion.
The Planning Commission of Pakistan was following the specific mechanism for release of funds and during first quarter (July-September), it releases 20 percent of development funds, in second quarter (October-December) 20 percent, third quarter(January-March) 30 percent and 30% in fourth quarter (April-June)