The government released money totalling Rs.4.21 billion under the Public Sector Development Programme 2022-23 to carry out information technology-related initiatives during the first four months of the current fiscal year. The government has allowed 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, according to the data available with WealthPK.

The entire amount invested in development projects for the relevant period (July–October) out of the total authorized and disbursed amount is Rs3,487.32 million. According to the Planning Division's mechanism for disbursement, the federal budget's development funds are released at a rate of 20% in the first quarter (July-September), 30% in each of the second and third quarters, and the remaining 20% in the fourth quarter (April-June) of a fiscal year.

Credit : Independent News Pakistan-WealthPk