Govt releases Rs7.761bn for agri sector development projects

May 17, 2022: The government has so far released funds amounting to over Rs7.761 billion to execute 26 ongoing and 07 new agriculture-related projects under its Public Sector Development Program (PSDP) for the financial year 2021-22 in order to promote the agriculture and livestock sectors in the country.

The government had allocated an amount of Rs12.017 billion in its annual developmental agenda for different agriculture sector uplift projects of the Ministry of National Food Security and Research to attain sustainable agriculture growth and economic development in the country.

According to the official data, an amount of Rs7.761 billion has been authorized/disbursed out of the total allocation of Rs12.017 billion for ongoing and new developmental schemes.

The government had allocated an amount of Rs8,139.166 million for the completion of ongoing development projects in the Public Sector Development Program for the financial year 2021-22.

Meanwhile, an amount of Rs3,878.114 million had been allocated for initiating 08 new development projects in order to enhance the per-acre crop output of all major crops, oilseeds and natural resource conservation.

In order to promote the cotton crop in the country, the government had allocated an amount of Rs200 million for horizontal development of cotton in Khyber Pakhtunkhwa and Balochistan through capacity building, technology transfer and ginning facilitation under Prime Minister Emergency Program.

The government was also intended to spend Rs955.472 million on the promotion of olive cultivation on a commercial scale–phase II for reducing reliance on imported edible oil.

It is worth mentioning here that the government was releasing funds as per the following quarterly ceilings: first quarter from July – September 20 percent, second-quarter October– December 30 percent, a third quarter from January – March) 30 percent and fourth quarter April–June 20 percent.

APP

Posted on: 2022-05-17T23:44:50+05:00

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