ISLAMABAD: The government has so far released Rs 274.170 million for various ongoing and new projects of the Industries and Production Division out of its total allocations of Rs 1029 million earmarked under the Public Sector Development Programme (PSDP) for Fiscal Year 2016-17.
Out of the total amount released, Rs 77.540 million have been provided for development projects of Pakistan Gems and Jewellery Development Company, for which Rs 193.850 million have been earmarked in the PSDP of current fiscal year.
The government also released Rs 32 million for Light Engineering Upgradation Center (LEUC) for SMEs in Balochistan out of its total allocations of Rs80 million for the current year.
Another Rs 32 million have been released for Hyderabad Engineering Support Center (HESC) for which the government has earmarked Rs 80 million.
The government released Rs 27.660 for water supply scheme for Hub Industrial Trading Estate Phase II (Extension) out of its total allocations of Rs 69.160 million, whereas Rs 10.140 million have been released for establishment of infrastructure in Queta Industrial and Trading Estate (Phase II)for which the government has earmarked Rs 25.350 million this year.
In addition, Rs 9.8 million have been released for establishment of Gems and Jewellery Development Company Azad Jammu and Kashmir out of its total Rs 24.507 allocation for this year while Rs 2.66 million have been released for establishment CFC for Silk Cluster at Mingora Swat for which the government has earmarked Rs 6.640 million this year.
It is pertinent to mention here that so far, the government has released Rs 248.671 billion for different social sector developmental projects under PSDP 2016-17.
The Planning Commission of Pakistan was following a proper mechanism to release funds.
The commission during first quarter (July September) release 20 percent of the total funds, 20 percent in second quarter (October December) and 30 percent each in third quarter (January March) and fourth quarter (April June).
Copyright APP (Associated Press of Pakistan), 2016
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