Govt releases Rs 257.436 billion for development projects under PSDP 2019-20

ISLAMABAD, Nov 9 (APP):The Ministry of Planning Development and Reforms has so fare given authorization for the release of Rs 257.436 billion including Rs 53.62 billion foreign aid for various ongoing and new development projects under Public Sector Development Program (PSDP) 2019-20 as against the total allocation of Rs 701 billion.

According to latest data of PSDP, released by the Planning Commission of Pakistan, the authorities concern were sanctioned to release Rs 114.199 billion including Rs 7.88 billion foreign aid for developmental projects of different federal ministries against the total allocation of Rs 303.66 billion for current fiscal year.

Meanwhile, Rs 85.430 billion was released for the development projects of different corporations and government has released Rs 80.029 billion for National Highway Authority (NHA) out of Rs 154.966 billion allocated in current year’s development agenda.
Under the development program of current fiscal year, an amount of Rs 26.78 billion have been released for Security Enhancement against Rs 32.500 billion budgeted allocation.

Under PSDP 2019-20, the government has given the authorization of release of Rs 10.640 billion for Azad Jammau and Kashmir including Rs 854.610 million of foreign aid component as against the allocation of Rs 27.284 billion.

An amount of Rs 6.571 billion was released for Gilgit Baltistan as the government had earmarked Rs 17.585 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 Rs 30.21 billion for different water resource development projects against the total allocation of Rs 85.72 billion during current fiscal year.

Authorization to release of Rs 15.994 billion given for Cabinet Division as against the total allocation of Rs 39.98 billion for current fiscal year and an amount of Rs 11.51 billion released for Higher Education Commission as against the total allocation of Rs 29.046 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)