Govt released Rs 90.4b under PSDP so far
27 November, 2012
ISLAMABAD: The Planning Commission of Pakistan has so far released Rs 90.4 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs.233 billion for the fiscal year 2012-13.
ISLAMABAD: The Planning Commission of Pakistan has so far released Rs 90.4 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs.233 billion for the fiscal year 2012-13. Out of total Rs 51.6 billion have been released for 344 infrastructure development projects while Rs 35.8 billion for 673 social sector projects was released up to November 23, according to the latest data of the Planning Commission.
Similarly, Rs 1.0 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 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 per cent.
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).