Govt releases Rs190bn for PSDP

Attention: open in a new window. PDFPrintE-mail

ISLAMABAD: The Planning Commission (PC) has so far released Rs190.9 billion under the Public Sector Development Programme (PSDP), accounting for 81 percent of the Rs233 billion federal development programme for the fiscal year 2012-13.

The disbursement took place despite the fact that a mechanism for releases against development schemes put in place by the commission itself required no more than 35 per cent of the total funds in the first quarter of a fiscal year.

 

The commission is supposed to release 20 percent of the funds in the first quarter (July-September), 20 percent in the second quarter (October-December), 25 percent in the third quarter (January-March) and 35 percent in the fourth quarter (April-June).

 

A total amount of Rs360 billion had been allocated for the federal PSDP but the commission was responsible only for monitoring and execution of projects worth Rs233 billion as Rs100 billion was funded directly through foreign aid and another Rs27 billion worth of special programmes like People’s Works Programme was being supervised directly by the cabinet division and the finance ministry.

 

According to the latest data released by the PC, an amount of Rs98 billion has been released for 346 infrastructure development projects and Rs85.4 billion for 716 social sector projects.

 

An amount of Rs2.4 billion has been released for 77 other projects and Rs5 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA). According to break up details the total cost of 346 infrastructure projects has been estimated at Rs2314.4 billion, out of which Rs.211.7 billion have been earmarked in the 2012-13 budget that include Rs85.6 billion as foreign aid.

 

The total cost of 716 social sector projects is Rs554.7 billion of which Rs135.2 billion is to be allocated in the current PSDP with foreign aid standing at 8.4 percent.

 

The cost of 77 other projects has been estimated at Rs41.8 billion out of which Rs3 billion has been earmarked under the Public Sector Development Programme 2012-13 while Rs10 billion has been earmarked for ERRA in the current development programme.






Courtesy:  The News


Forex open Market rates & comments Archive

Login Form