Industries’ projects get Rs 329 mln under PSDP

May 24, 2019: As many as Rs 329.880 million have been released by the government for various projects of the Industries and Production Division under the Public Sector Development Programme (PSDP 2018-19) against the total allocation of Rs769.999 million earmarked for the current fiscal year.

Out of the total released amount, the government released Rs140 million for National Business Development Programme for SMEs out of its total allocations of Rs200.

An amount of Rs80 million has been released for product development center for composites-based sports goods at Sialkot for which an amount of Rs200 million have been earmarked in the current PSDP.

The government also released Rs40 million for fruits, vegetables and condiments processing center at district Naushehroferoze, Sindh for which Rs 250 million have been earmarked in the PSDP of current fiscal year.

An amount of Rs20.18 million have been released for Light Engineering Upgradation Center for SMEs in Balochistan (LEUC) Hub, Lasbela Balochistan for which Rs22.883 million have been earmarked in the current budget.

The government released Rs20.1 million for Peshawar Light Engineering Center (PLEC) Peshawar, Khyber Pakhtunkhwa out of its total allocation of Rs46.280 million whereas an amount of Rs15.650 million have been released for Hyderabad Engineering Support Center (HESC) Hyderabad Sindh out of its total allocations of Rs30.896 million.

Another Rs13.950 million have been released for Fruit Dehydration Unit, Swat out of its total allocations of Rs19.940 million, the data revealed.

It is pertinent to mention here that in total the federal government has so far released 86% or Rs 578.8 billion out of total allocation of Rs 675 billion under PSDP 2018-19 for various ongoing and new social sector uplift projects.

Under its development program, the government released an amount of Rs 22.9 billion for federal ministries, whereas Rs 22.91 billion for corporations and Rs 41.6 billion for special areas, according to a data released by Ministry of Planning, Development and Reform on Monday.

The Planning Commission of Pakistan follows the specific mechanism for release of funds. During first quarter (July-September) it releases 20 per cent of development funds, in second quarter (October-December) 20 per cent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 per cent.

(APP)