Govt releases Rs 95.3bn for uplift projects

Govt releases Rs 95.3bn for uplift projects

ISLAMABAD: The Planning Commission of Pakistan has so far released Rs 95.3 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.

Out of total Rs 51.6 billion have been released for 344 infrastructure development projects while Rs 40.6 billion for 673 social sector projects, according to the latest data of the Planning Commission. Similarly, Rs 1 billion have been released for 68 other projects and Rs 2 billion for Earthquake Reconstruction and Rehabilitation Authority (ERRA).

The total size of the PSDP for the year 2012-13 is Rs 360, including Rs 100 billion foreign aid, which is managed by Economic Affairs Division and Rs 27 billion special programmes, release of which are made by Cabinet Division or Finance Division.According to break up details total cost of 344 infrastructure projects has been estimated at Rs 2346.4 billion, out of which Rs 210.9 billion have been earmarked in the 2012-13 budget that include Rs 85.6 as foreign aid.

Likewise the total cost of social sector projects is Rs 547.1, of which Rs 136.2 billion have been allocated in the current PSDP with foreign aid of Rs 8.4 percent. The cost of other projects has been estimated at Rs 40.6 billion out of which Rs 3 billion have been earmarked in the PSDP 2012-13 while Rs 10 billion have been earmarked for ERRA in the current development programme.

The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.The commission releases 20 percent of funds in first quarter July-September, 20 percent in second quarter October-December, 25 percent third quarter January-March and 35 percent in fourth quarter April-June. – Dailytimes