Fozia Azam

The government has released Rs5.156 billion to execute projects related to information technology (IT) during the first seven months (July-January) of the current fiscal year (2022-23) under the Public Sector Development Programme (PSDP 2022-23).

According to information available with WealthPK, the government has authorised the utilisation of development funds amounting to Rs5.156 billion out of a total allocation of Rs6.330 million for various ongoing and new projects of the Ministry of Information Technology and Telecommunication.

Out of the total authorised/disbursed amount, Rs3.747 billion was spent on the development projects during the period under review. According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20% in the first quarter (July-September), followed by 30% each in the second (October-December) and third (January-March) quarters, and the remaining 20% in the last quarter (April-June) of a fiscal year.

Credit: Independent News Pakistan-WealthPk