Uplift projects: Planning ministry orders release of Rs 116 billion for Q1

ISLAMABAD: The Ministry of Planning, Development and Special Initiatives has issued orders to release Rs116 billion for the first quarter of the current financial year 2020-21 for development projects.

Secretary Planning, Development and Special Initiatives Mathar Niaz Rana held a meeting on Saturday at P-Block Secretariat in the Planning Commission and disused budgeted allocation for current fiscal year for on-going and new development projects. The high officials of the Ministry of Planning, Development and Special initiatives were also participated in the meeting.

Secretary Planning, Development, and Special Initiatives Mathar Niaz Rana has issued orders to release Rs116 billion for the first quarter of the current financial year.

This amount is 20 percent of the total development budget allocated for the first quarter for ongoing projects of various ministries and their departments.

According to the Public-Sector Development Programme 2020-2021, the size of Federal PSDP is set at Rs650 billion including foreign assistance of Rs72.5 billion.

The Public-Private Partnership Authority has been activated leveraging Rs50 billion private sector investment to complement public resources. The current PSDP 2020-2021 is part of a three years rolling plan to carry forward vision of the government.

A special programme to mitigate COVID-19 impact, with an outlay of Rs70 billion, will focus on education, sewerage, solid waste management, clean drinking water, and upgrading existing health facilities.

During financial year 2020-2021, four projects with tentative cost of Rs300 billion and estimated investment of Rs50 billion would be implemented in Public-Private Partnership mode.

Copyright Business Recorder, 2020