November 27, 2022 (MLN): The federal government has authorized the utilization of development funds amounting to Rs241.26 billion out of a total allocation of Rs727bn for various ongoing and new social sector uplift projects of the federal ministries and divisions 4MFY23 under its Public Sector Development Programme (PSDP).
Out of the total authorized/disbursed amount, the total amount spent on the development projects during the corresponding period stood at Rs98.8bn.
According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20% in the first quarter (July-September), followed by 30% each in the second and third quarters, and the remaining 20% in the last quarter (April-June) of a fiscal year.
The government also authorized/disbursed Rs100bn for the Earthquake Reconstruction and Rehabilitation Authority (ERRA), according to the latest data released by the Ministry of Planning, Development, and Reform.
The detail shows that Rs 57.133bn out of a total allocated amount of Rs160.2bn have been disbursed to corporations while Rs184bn has been disbursed to the federal ministries out of a total allocation of Rs563.3bn.
For National Highway Authority (NHA), the government has disbursed/authorized Rs29.9bn out of a total allocation of Rs 17.2bn, whereas for NTDC/PEPCO, the government has disbursed Rs27.2bn.
The federal government has also disbursed/authorized Rs87bn, however, only Rs0.78bn have been spent on the development projects of the cabinet division so far.
Similarly, the data shows that Rs494 million has been disbursed to Aviation Division, and Rs161mn have been disbursed to the Board of Investment.
The government also authorized the utilization of Rs1.9bn for Climate Change Division out of which only Rs38mn have been spent during the period under review.
For Higher Education Commission (HEC), the government has authorized the release of Rs 17.78bn, Rs 25.2bn for provinces and special areas, Rs435mn for the Commerce Division, Rs36mn for the Communication Division (other than NHA), and Rs445mn for Defense Division.
Likewise, the government also disbursed Rs286mn to Finance Division, Rs180mn to Establishment Division, Rs1.4bn to Federal Education and Professional Training Division, and Rs4.3bn to Housing and Works Division.
Copyright Mettis Link News
Posted on: 2022-11-28T10:47:19+05:00