Saba Javed

The government has authorized the utilization of Rs224.5 billion in development funds out of a total allocation of Rs727 billion for various ongoing and new social sector uplift projects of the federal ministries and divisions in the first five months of the Fiscal Year 2022-23 under the Public Sector Development Program (PSDP), reports WealthPK. Out of the total authorized/disbursed amount, the total amount spent so far on the development projects during the corresponding period stands at Rs130.6 billion.

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 and third quarters, and the remaining 20% in the last quarter (April-June) of a fiscal year. The government also authorized/disbursed Rs100 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA), out of which Rs 96.33 billion has been spent, according to the latest data released by the Ministry of Planning, Development, and Reform.

Detail shows that Rs64.8 billion out of a total allocated amount of Rs160.2 billion has been disbursed to corporations, while Rs159.6 billion has been disbursed to the federal ministries out of a total allocation of Rs563.3 billion. For the National Highways Authority (NHA), the government has disbursed Rs30.2 billion out of a total allocation of Rs 117.2 billion, whereas Rs34.69 has been disbursed for NTDC/PEPCO. An amount of Rs87 billion has also been disbursed/authorized out of a total allocation of Rs87 billion for various development projects of the Cabinet Division; however, only Rs11 billion has been spent on the Cabinet Division development projects so far, reports WealthPK. Similarly, data shows that Rs495 million has been disbursed to the Aviation Division, and Rs161.5 million to the Board of the Investment.

The government also authorized the utilization of Rs1.9 billion for the Climate Change Division, out of which only Rs58 million has been spent during the period under review. The government has also authorized the release of Rs7.78 billion for the Higher Education Commission (HEC), Rs25.2 billion for the provinces and special areas, Rs435 million for the Commerce Division, Rs36 million for the Communication Division (other than the NHA), and Rs445 million for the Defense Division. Likewise, the government has also disbursed Rs286 million to the Finance Division, Rs355.85 million to the Establishment Division, Rs1.4 billion to the Federal Education and Professional Training Division, and Rs4.3 billion to the Housing and Works Division.

Credit : Independent News Pakistan-WealthPk