Rs101.4bn released under PSDP 2012-13 so far

ISLAMABAD: The Planning Commission of Pakistan has so far released Rs 101.4 billion under its Public Sector Development Programme (PSDP) against the total allocation of Rs 233 billion for the fiscal year 2012-13.

Some Rs. 55.7 billion has been released for 345 infrastructure development projects and Rs. 42.6 billion for 688 social sector projects, according to the latest data of the Planning Commission.Upto December 28, Rs. 1.1 billion were released for 68 other projects and Rs. 2.0 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

It may be mentioned here that 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, which are dealt by the Cabinet Division or Finance Division.According to the break-up, the total cost of 345 infrastructure projects has been estimated at Rs. 2,346.7 billion, out of which Rs. 211.1 billion earmarked in the 2012-13 budget, which include Rs. 85.6 billion as foreign aid.

Likewise, the total cost of social sector projects is Rs. 549.7, of which Rs. 135.9 billion has been allocated in the current PSDP with foreign aid of Rs. 8.4 billion.The cost of other projects has been estimated at Rs. 40.6 billion out of which Rs. 3.0 billion has been earmarked in the PSDP 2012-13 and Rs 10 billion allocated for the ERRA in the current development programme.The Planning Commission of Pakistan has been following a proper mechanism for the release of funds.The commission releases 20pc of funds in first quarter (July- September), 20pc in second quarter (October-December), 25pc third quarter (January-March) and 35pc in fourth quarter (April-June). – Brecorder