ISLAMABAD: Despite allocations under the Public Sector Development Programme (PSDP), funds were not released for over 200 development projects in the first half of Financial Year 2018-19.
As per available documents, the Ministry of Finance only released Rs225.54 billion so far under the PSDP against the allocation of Rs675 billion. The released amount is only 33pc against the required 40pc for the first two quarters.
As per the planning ministry, at least 40pc of the funds should be released in the first half of the financial year.
Among major projects, the Prime Minister Youth and Hunarmand Programme, gas infrastructure development and FATA’s 10-year plan failed to receive any funding. The Commerce Division, Inter-Provincial Coordination Division, and Religious Affairs and Interfaith Harmony Division also failed to receive development funds approved for FY19.
It is pertinent to mention that PSDP of Rs675 billion was already a revised one, as reductions were made by the incumbent government through supplementary budget last year.