Finance divisions: MoF proposes over Rs 17 billion PSDP for 36 projects

The Finance Ministry has proposed Rs 17.045 billion Public Sector Development Programme (PSDP) for 10 projects of Finance Division and 26 projects of provincial finance divisions for the next fiscal year, sources said.
Sources added that the proposed PSDP portfolio of the ministry for fiscal year 2018-19 has been finalized for consideration and inclusion in the consolidated development outlay. They added that Finance Division development portfolio for the next fiscal year includes 36 projects with a total proposed allocation of Rs 17.045 billion. Out of the 36 projects, 10 projects are for Finance Division and 26 projects are for provincial finance divisions.
They added that federal Finance Division projects of Rs 6.874 billion with foreign exchange component of Rs 4.557 billion for the next fiscal year included Debt Management Strengthening Program at Ministry of Finance with the cost of Rs 112.420 million. Sources said the project was started with a delay of one year in 2017 and will now be completed in 2019 the objectives of the project are to bring the debt under one umbrella from various scattered areas and capacity building of the debt policy coordination office.
Other projects of Finance Division are: construction/ extension of audit house, Islamabad, costing Rs 179.656 million; financial inclusion and infrastructure project with the cost of Rs 4.463.64 billion; assessing and strengthening the competition regime in Pakistan, Rs 36.273 million; construction of federal audit complex, Islamabad, Rs 556.756 million; modernization and up-gradation of Pakistan Mint, (phase-II), Rs 350 million; automation of Project of Central Directorate of National Savings (CDNS) phase-III, Rs 452.760 million; construction of National Academy of Public Finance & Accountancy (NAPFA), Islamabad, Rs 679.220 million; renovation & repair of Audit Complex, Lahore, (old PT&T building), Rs 89.332 million; and digitalization of Pakistan Economic Survey, Rs 10 million.
Sources further stated that provincial finance wing (PF Wing) is concerned only with release of funds of Rs 10.170 billion for 26 provincial projects which included one project of Rs 60 million for Punjab, seven projects of Rs 3.234 billion for Sindh, three projects of Rs 900 million of Khyber Pakhtunkhwa and 15 projects of Rs 5.976 billion for Finance Division of Balochistan. An allocation of Rs 17.724 billion has been made during current financial year. The Indicative Budget Ceiling (IBC) has not yet been issued by Planning Development and Reforms Division for the PSDP 2018-19 as yet. The proposed allocations would be adjusted based on the indicative budget ceiling issued by Planning Development and Reforms Division.
Tentatively, Finance Division is proposing an allocation of Rs 10.170 billion for provincial projects in the PSDP 2018-19 against Rs 17.724 billion allocation for outgoing fiscal year. Sources said that the reduction in proposed allocation was made because in the PSDP for the current year an allocation of Rs 9.555 billion has been made for the Greater Karachi Water Supply Scheme (K-IV) project. With the release of the allocated amount, the throw-forward for this project is only Rs 600 million, which is being proposed to be allocated in the next financial year.