Finance Ministry denies cut in PSDP

By MG News | March 12, 2020 at 02:44 PM GMT+05:00

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March 12, 2020: The Ministry of Finance Thursday denied a news report, published in a section of the press, suggesting and insinuating a Rs100 billion cut in the Public Sector Development Programme (PSDP) for the current fiscal year as per briefing by the Finance Secretary to the National Assembly’s Standing Committee on Finance and Revenue the other day.

“The Finance Division strongly denies and rebuts this news report as the Secretary Finance never stated at any point during his presentation to the National Assembly’s Standing Committee on Finance and Revenue that there could be cut in the federal development programme this year,” said an official statement issued by the ministry.

The statement asserted that the Finance Division had actually facilitated maximum and speedy disbursements for the year and there was no cut planned or suggested in the development spending for the current fiscal year.

The Finance Division has always provided full support to Planning Division to ensure timely expenditure, the said the statement.

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