Planning Commission releases Rs90.4bn for PSDP projects

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ISLAMABAD: The Planning Commission of Pakistan has released Rs90.4 billion under its Public Sector Development Programme (PSDP) against total allocation of Rs233 billion for FY13.

Of the total, Rs51.6 billion have been released for 344 infrastructure development projects while the sum of Rs35.8 billion was released by November 23 for 673 social sector projects, according to the latest data of the Planning Commission.

Similarly, the amount of one billion rupees was released for 68 other projects and the sum of two billion rupees was allocated to the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

According to data, these releases have been made against Rs233 PSDP allocations.

The total size of the PSDP for the year 2012-13 is Rs360 billion, including Rs100 billion in foreign aid, which is managed by the Economic Affairs Division and Rs27 billion for special programmes, which is released by the Cabinet Division or Finance Division.

Total cost of 344 infrastructure projects has been estimated at Rs2346.4 billion, of which Rs210.9 billion was earmarked in the 2012-13 budget that includes Rs85.6 billion as foreign aid.

Likewise, the total cost of social sector projects is Rs547.1, of which Rs136.2 billion has been allocated in the current PSDP with Rs8.4 percent foreign aid. The cost of other projects has been estimated at Rs40.6 billion, of which the sum of three billion rupees was earmarked in the PSDP 2012-13 while the amount of Rs10 billion was 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 the given mechanism. The commission releases 20 percent of 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).

Courtesy: The News

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