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ISLAMABAD: The Ministry of Planning, Development and Special Initiatives has authorised the release/disbursement of Rs399.68 billion funds including Rs71.12 billion foreign exchange component from July to February of the financial year 2022-23 against Rs727 billion total budgeted allocation for the Public Sector Development Program (PSDP).

According to data available on the website of the Planning Commission, Rs250.29 billion has been expended on development projects.

The total PSDP budgeted allocation for the fiscal year 2022-23 is Rs727 billion which includes Rs667 billion local component and Rs60 billion Foreign Exchange Component (FEC). Interestingly, the authorisation of the FEC is Rs11.12 billion higher than the budgeted allocation of Rs60 billion as Rs71.12 Rs328.566 billion has been released.

PSDP 2023-24: Finance Div seeks Rs2.958bn allocation

A total of Rs566.002 billion has been allocated for federal ministries, divisions and other departments under PSDP-2022-23 while an amount of Rs299.883 billion has been authorised during the first eight months; however, the utilisation was merely Rs172.946 billion, which was only 30 percent of the allocated amount, the data reveals.

For corporations: a total of Rs160.24 billion including Rs43.273 billion FEC has been allocated while Rs99.5 billion has been authorised/disbursed for the development projects of National Highways Authority (NHA) and Power Planning and Monitoring Company (PPMC). Interestingly, for these corporations, the authorisation of FEC is Rs10.5 billion higher than the budgeted allocation of Rs43.273 billion as 53.73 billion has been released.

According to the data, a total of Rs90 billion has been authorised out of Rs90 billion for the development projects for the Cabinet Division while Rs41 billion has been expended. A total of Rs5.864 billion authorised for development projects of the Aviation Division, Rs3.33 billion for the Climate Change Division, Rs4.1 billion for the Federal Education and Professional Training Division, Rs45.87 billion for Provincial and Special Areas (previously, under FD/KA&GB), 5.16 billion for Information Technology and Telecom Division, and Rs12.77 billion for Railway Division, etc.

Copyright Business Recorder, 2023

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