Govt releases Rs 98.9b for development projects

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ISLAMABAD - The Planning Commission of Pakistan has so far released Rs 98.9 billion under its Public Sector Development Programme (PSDP) against the total allocation of Rs 233 billion for the fiscal year 2012-13, according to the latest data of the commission released Friday. Out of total, Rs 55.1 billion have been released for 344 infrastructure development projects while Rs 40.7 billion for 673 social sector projects.

Similarly, Rs 1.1 billion have been released for 68 other projects and Rs 2 billion for Earthquake Reconstruction and Rehabilitation Authority (ERRA).

According to data, these releases have been made against Rs 233 PSDP allocations.

It is pertinent to mention here that the total size of the PSDP for the year 2012-13 is Rs 360, including Rs.100 billion foreign aid, which is managed by Economic Affairs Division and Rs.27 billion special programmes, release of which are made by Cabinet Division or Finance Division.

According to break up details, the total cost of 344 infrastructure projects has been estimated at Rs. 2346.4 billion, out of which Rs 210.9 billion have been earmarked in the 2012-13 budget that include Rs 85.6 as foreign aid. Likewise, the total cost of social sector projects is Rs 547.1, of which Rs.136.2 billion have been allocated in the current PSDP with foreign aid of Rs 8.4 percent.

The cost of other projects has been estimated at Rs 40.6 billion out of which Rs.3 billion have been earmarked in the PSDP 2012-13 while Rs.10 billion have been earmarked for ERRA in the current development programme.

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).

Courtesy: The Nation


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