Government releases 31% of the allotted funds for development projects, missing half year targets

The government in six months period almost released 31 percent of the amount allocated for the projects under the umbrella of federal planning commission, which appeared to bit slow compared with the preceding years of 40 to 45 percent, said an analyst.

According to the figures released by the Planning Commission by December 22, 2017 nearly Rs 318 billion worth of funds have been released from different projects in the current fiscal year.

The government estimates around Rs 838 billion would be the local component while nearly Rs 162 billion would be foreign fund assistance.

Out of the Rs 318 billion nearly Rs 251 billion was the local component while Rs 67 billion was arrived from the foreign financial institutions.

The data showed that Rs 116 billion has been released for National Highway Authority, which explained that most of the funds would be consumed for high ways, flyovers and motor ways to improve the connectivity between the city and villages. 

The government allocated Rs 27 billion for the special areas such as Gilgit, Baltistan, and FATA areas while Rs 36 billion has been disbursed for the improvement of security and also for the people temporarily displaced.