Rs.240.890 million released for industries production projects

March 7, 2019: The government has so far released an amount of Rs240.890 million 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, Rs80 million have 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.

Another Rs80 million have been released for National Business Development Programme for SMEs out of its total allocations of Rs200 million.

The government also released Rs40 million for fruits, vegetables and condiments processing center at Naushehroferoze district, Sindh for which Rs250 million have been earmarked in the PSDP of current fiscal year.

An amount of Rs12.090 million have been released for Light Engineering Up-gradation Centre for SMEs in Baluchistan (LEUC) Hub, Lasbela Baluchistan for which Rs22.883 million have been earmarked in the current budget.

The government released Rs11.480 million for Peshawar Light Engineering Centre (PLEC) Peshawar, Khyber Pakhtunkhwa out of its total allocation of Rs11.480 million whereas an amount of Rs9.350 million have been released for Hyderabad Engineering Support Centre (HESC) Hyderabad Sindh out of its total allocations of Rs30.896 million.

Another Rs7.970 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 the federal government has so far released

Rs365.231 billion against the total allocation of Rs.675 billion under its Public Sector Development Programme (PSDP) 2018-19 for various ongoing and new schemes.

The released funds include Rs145.34 billion for federal ministries, Rs169.48 billion for corporations, and Rs30.28 billion for special areas, according to latest 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)