No diversion of CPEC projects' funds allocated under PSDP FY19: Spokesperson

News Image

MG News | March 06, 2019 at 04:04 PM GMT+05:00

0:00

March 6, 2019: The ministry of Planning, Development, and Reform Wednesday said that the government had not diverted the funds allocated for the China Pakistan Economic Corridor (CPEC) projects under Public Sector Development Programme (PSDP) 2018-19.

"The allocations made for CPEC projects were as per requirement and demand of executing agencies for FY 2018-19 and despite rationalization of PSDP from Rs.800 billion to Rs.675 billion, allocations of on-going CPEC projects were protected," the spokesperson of the ministry said in a statement.

Referring to a recent news published by local newspaper under the caption “Government diverted Rs.24 billion to Lawmakers Schemes”, the official said the news was misleading and deviation from the facts.

He said while reviewing PSDP 2018-19 in September, 2018, Ministry of Planning, Development and Reform kept an allocation of Rs.27 billion for CPEC and other initiatives which was meant to undertake new initiatives mainly for the betterment of the population by improving quality of life. 

The sectors include education, health, clean drinking water, and sanitation, farm to market roads, gas, electricity and other interventions leading to achievement of Sustainable Development Goals (SDGs).

This programme is community driven and the execution will be governed by adhering to strict rules and managed by a Steering Committee.

It is wrong to give an impression that funds have been diverted from CPEC projects to law makers’ schemes, the spokesperson said.

He said the SDGs Achievement Programme would help achieve SDGs since the programme was responsive in nature and make intervention as per demand of the people of area and region.

In fact, he said from next financial year the government would start another programme to be called as Regional Equalization Programme in consultation with the Provincial Governments to ensure balance and equitable regional growth by starting programmes and projects in the less developed districts of the country.

The SDGs Achievement Programme is a tool to meet the demand of people on one hand and on the other it will fulfill the commitment made by Pakistan to the Comity of Nations, he added.

(APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 172,962.21
520.32M
1.80%
3050.26
ALLSHR 103,324.09
1,125.74M
1.92%
1949.48
KSE30 52,429.97
242.84M
1.86%
956.81
KMI30 249,037.55
173.72M
1.21%
2981.24
KMIALLSHR 67,193.26
567.27M
1.51%
997.78
BKTi 48,176.07
133.28M
3.39%
1579.00
OGTi 35,793.97
20.00M
1.68%
592.23
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 75,805.00 76,545.00
74,645.00
295.00
0.39%
BRENT CRUDE 96.03 98.98
95.57
-3.36
-3.38%
RICHARDS BAY COAL MONTHLY 103.25 103.25
103.25
0.00
0.00%
ROTTERDAM COAL MONTHLY 102.95 102.95
102.95
0.00
0.00%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 87.50 90.34
87.02
-3.67
-4.03%
SUGAR #11 WORLD 13.66 13.89
13.65
-0.14
-1.01%

Chart of the Day


Latest News
April 17, 2026 at 03:24 PM GMT+05:00

Gold price in Pakistan falls Rs3,300 per tola


April 17, 2026 at 03:03 PM GMT+05:00

Oil drops on Israel-Lebanon ceasefire


April 17, 2026 at 02:42 PM GMT+05:00

Habib Bank declares Rs6/share dividend in Q1FY26


April 17, 2026 at 02:41 PM GMT+05:00

OMO Result: SBP injects Rs13.5tr into Market


April 17, 2026 at 02:02 PM GMT+05:00

GHNI 9MFY26 profit surges 80% on strong revenue growth



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg