Gov’t increases development budget under federal PSDP by 86% in 4 years

The government has increased development funds under Federal Public Sector Development Program (PSDP) during previous four years by 86 per cent from Rs 540 billion in the year 2013-14 to Rs 1001 billion in current fiscal year to boost socio-economic development of the country.

Giving details about performance of ministry of planning, an official in the ministry told APP that the development budget during fiscal year 2017-18 was increased by 25 per cent as compared to the development budget of Rs 800 billion during 2016-17.

For various development projects of federal ministries, total budget has increased from Rs362 billion in 2013-14 to Rs319 billion while for Higher Education Commission the development budget rose to Rs35 billion in 2017-18 from Rs18.43 billion in 2013-14.

During the year 2014-15, 2015-16, and 2016-17, an amount of Rs27 billion, Rs20.5 billion, and Rs21.48 billion was allocated respectively for various development projects of HEC.

Meanwhile, the allocation for National Highway Authority has also increased to Rs325 billion during the year 2017-18 from an allocation of Rs63 billion in 2013-14.

For WAPDA (Power), the development budget also increased from Rs51.54 billion in 2013-14 to Rs63 billion.

Similarly, development budget of Azad Jammu and Kashmir AJK (Block and other projects), the development funds allocation rose from Rs19.99 billion in 2013-14 to Rs13.3 billion in 2015-16 and to Rs25 billion in 2017-18.

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% of funds in first quarter (July September), 20% in second quarter (October December), 25% third quarter (January March) and 35% in fourth quarter (April June).

Posted on: 2018-01-17T16:30:00+05:00