Rs 170.3b released for development projects so far

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ISLAMABAD : The Planning Commission of Pakistan has so far released Rs 170.3 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.

According to the latest data of the commission, an amount of Rs 86.2 billion has been released for 347 infrastructure development projects and Rs 78.2 billion for 715 social sector projects.

Similarly, Rs 1.9 billion has been released for 77 other projects and Rs. 4 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

According to the data, the 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 billion, 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 347 infrastructure projects has been estimated at Rs. 2320.3 billion, out of which Rs.211.1 billion have been earmarked in the 2012-13 budget that include Rs 85.6 billion as foreign aid.

Likewise, the total cost of 715 social sector projects is Rs 554.7 billion, of which Rs.135.9 billion has been allocated in the current PSDP with foreign aid of Rs 8.4 percent.

The cost of other 77 projects has been estimated at Rs 41.8 billion out of which Rs.3 billion has been earmarked in the PSDP 2012-13 while Rs.10 billion has 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: Nation

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