Fozia Azam

The government has made available funds totalling more than Rs4.21 billion to carry out initiatives relating to information technology during the first four months of the current fiscal year under the Public Sector Development Programme 2022-23.

According to a document available with WealthPK, the government has approved the use of development funds worth Rs4,211.21 million out of a total allocation of Rs5,731.70 million for different existing and new projects of the Ministry of Information Technology and Telecommunication.

The overall amount spent on development projects for the corresponding period (July-October), out of the total authorized and disbursed amount, was $3,487.32 million.

According to the Planning Division's distribution system, the federal budget's development funds are released at a rate of 20% in the first quarter (July-September), followed by 30% each in the second and third quarters, and the remaining 20% in the fourth and final quarter (April-June) of a fiscal year.

Credit : Independent News Pakistan-WealthPk