Govt issues Rs129 billion for development projects under PSDP

ISLAMABAD: The Ministry of Planning, Development and Special Initiatives has released Rs129 billion for development projects under Public Sector Development Programme (PSDP) for the fourth quarter of the current fiscal year (2022-23).

According to a statement issued by the ministry, the Water Resource Division and Higher Education Commission (HEC) have been given top priority.

It is pertinent to mention here that no funds were issued in the last quarter of the previous fiscal year (2021-22), which resulted in the government shrinking the PSDP from Rs700 billion to Rs550 billion.

According to the latest data provided by the Planning Ministry, an amount Rs27 billion has been allocated for Azad Jammu and Kashmir AJK, Gilgit-Baltistan and Ex-FATA districts for the development projects under PSDP.

An amount of Rs30 billion was released to the Power Division to speed up the projects like Diamer-Bhasha Dam, Mohmand Dam, Kachi Canal, Nai Gaj Dam, while Rs22bln was released for Ministry of Communication to expedite the projects like Khuzdar-Kuchlak Road, Dualization & Improvement of Old Bannu Road.

In addition to this, Rs8 billion was released for HEC to complete the projects. Similarly, an amount of Rs4 billion was released for the Ministry of Housing and Works, Rs8bln for the Ministry of Railway, and Rs5 billion for the Power Division.