April 16, 2019: The government has so far released Rs522.970 million for various ongoing and new projects of Revenue Division under the Public Sector Development Programme (PSDP) for the current fiscal year (2018-19).
The government, in its Federal PSDP, had earmarked Rs1470.2 million for the Revenue Division projects, with foreign exchange component of Rs552 million, according to the latest data released by of Ministry of Planning, Development and Reform.
The government released Rs203 million for development of Integrated Transit Trade Management System (ITTMS) for which an amount of Rs840 million has been allocated in the federal PSDP 2018-19, including foreign aid of Rs 550 million.
An amount of Rs140 million have been released for establishment of Inland Revenue Offices in Pakistan for which an amount of Rs160 million have been earmarked in the current PSDP.
The government released Rs40 million out of Rs80 million for construction of Regional Tax Office (RTO) at Islamabad while Rs30 million have been released for construction of Model Customs Collectorate at Gwadar for which an amount of Rs 50 million have been earmarked.
An amount of Rs17.1 million has been released for purchase of land for establishing Directorate of Transit Trade at Gilgit for China Pakistan Economic Corridor (CPEC) Trade Facilitation for which Rs28.5 million have been earmarked in the current PSDP.
The government also released Rs15 for construction of warehouse for Model Customs Collectorate at Khokar Niaz Baig Lahore for which Rs45 million have been allocated this year.
An amout of Rs12.5 million have been released for construction of additional office block for Model Customs Collectorate at Hyderabad.
It is pertinent to mention here that the federal government has so far released Rs 470.2 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2018-19 as against the total allocation of Rs 675 billion.
Under its development program, so far the government had released an amount of Rs192.714 billion for federal ministries, whereas Rs 219.757 billion for corporations and Rs37.6011 billion for special areas, according to latest data released by Ministry of Planning, Development and Reform.
The Planning Commission of Pakistan follows the specific mechanism for release of funds. During first quarter (July-September) it releases 20 percent of development funds, in second quarter (October-December) 20 percent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 percent.
(APP)
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