Govt releases Rs79.3mln for CDNS automation project
ISLAMABAD: The government has released Rs79.396 million for the automation project of Central Directorate of National Savings (CDNS) under the Public Sector Development Programme (PSDP) 2017-18.
During the ongoing year, an amount of Rs202.106 would be spent on the project as per the allocations of PSDP (2017-18),officials sources said.
The total cost of the CDNS automation Phase project has been estimated at 879.8 billion which aims to bring more branches of the National Savings under the automation system.
Meanwhile the Ministry of Planning, Development and Reform released Rs285.919 million for various ongoing and new projects of Finance Division.
Out of the total releases, an amount of Rs300.188 million has been released for Power Plant from Syngas (IGCC 20090 Tharparker.
Total cost of this project estimated Rs8898.7 million, out of which Rs300.188 million were earmarked in the federal PSDP 2017-18, officials sources added.
The government also released over Rs 93 million for various projects of Revenue Division out of its total allocations of Rs790.1 million for the fiscal year 2017-18.
Out of the released amount, Rs40 million have been released for establishment of Inland Revenue offices in the country for which an amount of Rs 148 million has been earmarked in the federal budget for the current fiscal year.
The government also released Rs35 million for development of Integrated Transit Trade Management System (ITTMS) under Asian Development Bank (ADB) Regional Improving Border Service Project, officials sources said.
The government would spend as many as Rs255.375 million on the project during the current fiscal year (2017-18).
The total allocations for the project under PSDP 2017-18 have been earmarked at Rs 55 million, according to official data.
Out of the total allocations of Rs10 million earmarked for the construction of Regional Tax Office (RTO) Dere Ismail Khan, the government has so far released Rs3 million for the project.
Meanwhile, in total the government has so far released Rs 169.210 billion under its Public Sector Development Programme (PSDP) for the fiscal year 2017 18 for various ongoing and new schemes against their total allocations of Rs.1001 billion.
The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.
The commission releases 20% of funds in first quarter (July- September), 20% in second quarter (October December), 25% third quarter (January March) and 35% in fourth quarter (April June).