Rs 148.8 billion for development projects issued

ISLAMABAD – Funds of over Rs 148.837 billion have been released, under the Public Sector Development Programme (PSDP) to complete various projects, against the total allocations of Rs 525 billion for the fiscal year 2014-15.

According media reports; the latest data of the Ministry of Planning, Development and Reforms, Rs 23,735 million have been released for various projects of Pakistan Atomic Energy Commission, out of its total allocations of Rs 51,475 million, earmarked under PSDP for FY 2014-15.

An amount of Rs.7,832.300 million have been released for Higher Education Commission (HEC) out of its total allocations of Rs 20,068 million, whereas Rs14,864.829 million have been released for Water and Power Division (Water Sector) out of its total allocations of Rs43,427 million for the current fiscal year.

The government released Rs 18,318.400 million for Railways Division for which Rs 39,566 million have been earmarked in the PSDP of FY 2014-15. An amount of Rs 1,948.783 million has been released for Cabinet Division out of its total allocations of Rs 2,077 million whereas Rs 97.451 million have been released for Communications Division (other than NHA Defence Division) out of Rs 2,260.765 million.

A sum of Rs 354.221 million have been released for Commerce Division out of its total allocations of Rs 363 million whereas out of the total allocations of Rs 11,061 million allocated for Finance Division, the government has so far released Rs1,881.813 million. According to the data, the government also released Rs 1,443 million for Interior Division for which Rs 3,900 million have been earmarked in the budget of current year whereas Rs 414.775 million have been released for National Food Security and Research Division.

Similarly, Rs 20,388.077 million have been released for National Health Services, Regulations and Coordination Division out of its total allocations of Rs 27,014 million. A sum of Rs 361.802 million has been released for Planning, Development and Reform Division out of Rs 32,878 million, the data revealed. An amount of Rs28 million has been released for Communications Division (other than NHA) out of its total allocations of Rs 191 million whereas Rs 33.720 million have been released for Narcotics Control Division out of its total funds of Rs 324 million.

The government also released Rs 286.342 million for Science and Technological Research Division, Rs 40 million for Textile Industry Division and Rs 140 million for SUPARCO. The government released Rs 4,324.964 million for AJK (Block and other projects) out of its allocations of Rs 12,127 million, Rs 4,227.033 million for Gilgit-Baltistan (Block and other projects) out of its total allocations of Rs 9,230 million and Rs 7,180.133 million for SAFRON/FATA out of its Rs 19100 million.

Rs 1,394.240 million have been released for Earthquake Reconstruction and Rehabilitation Authority (ERRA) out of its total allocations of Rs 5,000 million. The Planning Commission of Pakistan has been following a proper mechanism for the release of funds. The Commission releases 20 per cent of funds in first quarter (July-September), 20 per cent in second quarter (October-December), 30 percent third quarter(January-March) and 30 percent in fourth quarter (April-June).