PSDP 2023-24: Govt releases Rs300.91bn funds in 4QFY24

Business Nov, 22 2023
PSDP 2023-24: Govt releases Rs300.91bn funds in 4QFY24
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ISLAMABAD: Government authorised utilisation of development funds amounting to Rs 300.904 billion, out of total allocation of Rs 950 billion, for various ongoing and new social sector uplift projects of ministries and divisions during first four months (July-October) of fiscal year 2023-24 under its Public Sector Development Programme (PSDP).

Out of total authorised/disbursed amount, total amount spent so far on development projects during corresponding period stood at Rs 76.002 billion, according to latest data released by Ministry of Planning, Development and Special Initiatives.

According to disbursement mechanism of Planning Division, development funds allocated in budget are released at rate of 20 percent in first quarter (July-September) followed by 30 percent each in second and third quarters and remaining 20 percent in last quarter (April-June) of fiscal year.

Detail shows that Rs 61.344 billion out of total allocated amount of Rs 211.777 billion has been disbursed to corporations including National Highway Authority, National Transmission and Despatch Company and Pakistan Electric Power Company while Rs 250 million have been disbursed to Prime Minister’s Initiatives and Project Liabilities schemes out of total allocation of Rs 850 billion.

For Aviation Division, funds amounting to Rs 1.907 billion have been disbursed and Rs 390.17 million for Board of Investment. Similarly, government authorised Rs 61.282 billion to Cabinet Division, Rs 1.417 billion to Ministry of Climate Change, Rs 385 million to Commerce Division, Rs 126 million to Ministry of Communications (other than NHA), Rs 1.120 billion to Defence Division, Rs 560 million to Defence Production Division, Rs 294 million for Establishment Division, Rs 2.975 billion to Federal Education and Professional Training Division, Rs 1.127 billion to Finance Division, Rs 43.265 billion to Provinces and Special Areas (Previously Under FD/KA&GB), Rs 20.895 billion to Higher Education Commission, Rs 14.238 billion to Housing and Works Division, Rs 284.90 million to Human Rights Division, Rs 1.050 billion to Industries and Production Division, Rs 700 million to Information an Broadcasting Division, Rs 2.100 billion to Information Technology and Telecom Division, Rs 665 million to Inter Provincial Coordination Division, Rs 3.482 billion to Interior Division, Rs 490 million to Law and Justice Division, Rs 505.25 million to Maritime Affairs Division, Rs 52.50 million to Narcotics Division, Rs 3.097 billion to National Food Security and Research Division, Rs 3.177 billion to National Health Services, Regulations and Coordination Division, Rs 250 million to National Heritage and Culture Division, Rs 52.50 million to Pakistan Nuclear Regulatory Authority, Rs 777.73 million to Petroleum Division, Rs 7.345 billion to Planning, Development and Special Initiatives Division, Rs 175 million to Poverty Alleviation and Social Safety Division, Rs 11.557 billion to Railway Division, Rs 280 million to Religious Affairs and Interfaith Harmony Division, Rs 1.120 billion to Revenue Division, Rs 2.800 billion to Science and Technological Research, Rs 337.48 million to States and Frontier Regions Division and Rs 38.675 billion to Water Resources Division.

Published in The Daily National Courier, November, 23 2023

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