ISLAMABAD: The Planning Commission of Pakistan has so far released Rs140.2 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.
Out of the total funds, Rs 74.8 billion has been released for 345 infrastructure development projects and Rs 61.0 billion for 694 social sector projects.
According to data of the commission, till March 15 Rs 1.5 billion had been released for 74 other projects and Rs 2.8 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).
The total size of the PSDP for the year 2012-13 is Rs 360 billion, including Rs 100 billion foreign aid, which is managed by Economic Affairs Division and Rs 27 billion special programmes, release of which are made by the Cabinet Division or the Finance Division.
According to break up details, the total cost of 345 infrastructure projects has been estimated at Rs 2320.3 billion, out of which Rs 211.1 billion have been earmarked in the 2012-13 budget that include Rs 85.6 billion as foreign aid.
Similarly, the cost of 694 social projects has been estimated at Rs 552.9 billion and about Rs 135.9 billion has been earmarked in the current fiscal budget including Rs 8.4 billion as foreign aid.
The cost of the other 74 projects has been estimated at Rs 41.6 billion out of which Rs 3 billion has been earmarked in the PSDP 2012-13 while Rs 10 billion has been earmarked for ERRA in the current development programme.
The commission has been following a proper mechanism for the release of funds and accordingly funds are released per the given mechanism.
The commission releases 20% of funds in the first quarter (July-September), 20% in second quarter (October-December), 25% in the third quarter (January-March) and 35% in the fourth quarter (April-June).
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