ISLAMABAD: The Ministry of Planning, Development and Special Initiatives has authorised Rs 305.96 billion (32.55 percent), including Rs 26.3 billion foreign exchange component, in July to December 2023-24 against Rs 940 billion total budgeted allocation for development projects under the Public Sector Development Programme (PSDP).
According to the sources, the caretaker federal government cut down the development budget 2023-24 from Rs 950 billion to Rs 940 billion after a review of the development projects. The caretaker federal government after consultation has shelved hundreds of non-starter development projects.
According to the Ministry of Finance’s notification, the Ministry of Planning, Development and Special Initiatives authorised 15 percent funds for the first quarter, 20 percent for the second quarter, 25 percent for the third quarter, and 40 percent for the fourth quarter under the PSDP 2023-24.
Jul-Oct 2023-24: Rs300.9bn authorised for projects under PSDP
According to data available on the website of the ministry, the ministry authorised Rs 242.634 billion (36.4 percent) including Rs 12.694 billion foreign aid for development projects of various federal ministries, divisions and other departments against Rs653.2 billion budgeted allocations for the financial year 2023-24.
The ministry authorised Rs 61.344 billion including Rs 13.56 billion foreign aid out of Rs 211.78 billion budgeted for the National Highways Authority (NHA) and Power sector (NTDC/PEPCO) for development projects. A total of Rs 41.997 billion has been authorised out of Rs 156.5 billion for development projects of the NHA and Rs 19.35 billion out of Rs 55.3 billion for the power sector(NTDC/PEPCO) for the first four months of the current year.
According to the data, a total of Rs 61.28 billion has been authorised out of Rs 90.12 billion budgeted allocations for development projects for the Cabinet Division. A total of Rs 1.91 billion was authorised out of Rs 5.45 billion for development projects of the Aviation Division, Rs 1.42 billion for the Climate Change Division, Rs 2.975 billion for the Federal Education and Professional Training Division, Rs 43.27 billion for Provincial and Special Areas (previously, under FD/KA&GB), Rs 2.1 billion for Information Technology and Telecom Division, and Rs 11.56 billion for Railway Division.
The ministry also authorised Rs 3.48 billion out Rs 9.95 billion budgeted allocation for the Interior Division, Rs 3.177 billion out of Rs 13.1 billion for National Health Service, Regulations and Coordination Division, Rs 1.12 billion for Defence Division, Rs 560 million for Defence Production Division, Rs 14.24 billion out of Rs 40.68 billion for Housing and Works Division, Rs 7.35 billion for Planning, Development and Special Initiatives Division, Rs 505.25 million for Maritimes Affairs Division, Rs 2.8 billion for Science and Technological Research Division, Rs 1.13 billion for Finance Division, Rs 777.73 million for Petroleum Division, and Rs 38.675 billion out of Rs 110.5 billion budgeted allocation for development projects of Water Resources Division etc.
A total of Rs 1.978 billion out of Rs 70 billion budgeted allocations has been authorised for the prime minister’s initiatives.
Copyright Business Recorder, 2024
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