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August 19, 2019

Govt releasesRs15.4 billion for development projects


August 19, 2019

Islamabad: The federal government has so far released Rs15.4 billion for various on-going and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs701 billion.

Under its development program, the government has released an amount of Rs10.2 billion for federal ministries, whereas Rs4.6 billion for special areas, according to a data released by Ministry of Planning, Development and Reform.

Out of these allocations, the government released Rs4.4 billion for Higher Education Commission out of its total allocation of Rs29 billion.

Under annual development agenda, the government also released Rs4.27 billion for Pakistan Atomic Energy Commission for which an amount of Rs24.4 billion was allocated under PSDP 2018-19.Similarly, Rs750 million were released for Communication Division (other than NHA) as the government earmarked Rs9.8 billion in its PSDP 2019-20.SUPARCO received Rs365.8 million out of its total allocation of Rs6.03 billion whereas Revenue Division received Rs198.15 million out of total allocation of Rs1.9 billion. The government also released Rs4.6 billion for Azad Jammu and Kashmir (AJK) block and other projects out of its allocations of Rs27.26 billion.

The Planning Commission of Pakistan follows the specific mechanism for release of funds. During first quarter (July-September) it releases 20 per cent of development funds, in second quarter (October-December) 20 per cent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 per cent.

Meanwhile the Planning Commission has clarified that a news item published in certain sections of media regarding authorization of PSDP funds during 2019-20 that the Ministry of Planning, Development and Reform has processed all demands received for authorization till August 16, 2019 against PSDP allocation. In a statement, the Planning Commission said, “As per Release Strategy issued by the Finance Division on July 15, 2019, 20 per cent of the PSDP allocation has to be authorized for PSDP funded projects".

Accordingly, Ministry of Planning, Development and Reform has to authorize Rs89 billion during the first quarter which is 20% of Pak rupee earmarked in current PSDP. Out of this demand of Rs56 billion was received from all federal entities.

This ministry has authorized Rs22.6 billion to different ministries/division which meet SOP/codal formalities for release authorization. The remaining was not authorized mainly due to non-fulfilment of codal formalities. The amount would be released as soon as Ministries fulfil the formalities. It would not be out of place to highlight that during last financial year Ministry of Planning, Development and Reform authorized releases of 97% of PSDP 2018-19. —APP

Our correspondent adds: The Capital Development Authority (CDA) is moving toward residential development after nearly two decades. CDA has issued tenders for development works in Sector E-12. After a lapse of nearly four decades finally after efforts of last six months formalities have been fulfilled and tenders being floated on Monday.

CDA Management had announced in February this year to initiate development activities on stalled sectors. As a consequence the oldest stalled sector has been taken up first and development work shall now become a reality, A CDA official said. He said it would add to the housing stock available in the city as well as the country.

Roughly over 4,000 units will eventually be created here. Initially work will be started on service road and gradually momentum shall be built. Similarly development works in other sectors are also in the pipeline.

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