Govt Authorizes Utilization Of Development Funds Worth Rs 241 Bln In 4 Months
Fahad Shabbir (@FahadShabbir) Published November 27, 2022 | 02:40 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 27th Nov, 2022 ) :The Federal Government has authorized the utilization of development funds amounting to Rs 241.26 billion out of a total allocation of Rs 727 billion for various ongoing and new social sector uplift projects of the federal ministries and division in the first four months (July-October) of the fiscal year 2022-23 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 Rs 98.8 billion.
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 Rs 100 billion 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 57.133 billion out of a total allocated amount of Rs 160.2 billion have been disbursed to corporations while Rs 184 billion have been disbursed to the federal ministries out of a total allocation of Rs 563.
3 billion.
For National Highway Authority (NHA), the government has disbursed/authorized Rs 29.9 billion out of a total allocation of Rs 117.2 billion, whereas for NTDC/PEPCO, the government has disbursed Rs 27.2 billion.
The federal government has also disbursed/authorized Rs 87 billion out of a total allocation of Rs 87 billion, however, only Rs 0.78 billion have been spent on the development projects of the cabinet division so far.
Similarly, the data shows that Rs 494 million has been disbursed to Aviation Division, and Rs 161 million have been disbursed to the board of the Investment.
The government also authorized the utilization of Rs 1.9 billion for Climate Change Division out of which only Rs 38 million have been spent during the period under review.
For Higher education Commission (HEC), the government has authorized the release of Rs 17.78 billion, Rs 25.2 billion for provinces and special areas, Rs 435 million for Commerce Division, Rs 36 million for Communication Division (other than NHA), and Rs 445 million for Defense Division.
Likewise, the government also disbursed Rs 286 million to Finance Division, Rs 180 million to Establishment Division, Rs 1.4 billion to Federal Education and Professional Training Division, and Rs 4.3 billion to Housing and Works Division.
\395
Related Topics
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From Business
-
Mired in crisis, Boeing reports another loss
3 hours ago -
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
3 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
3 hours ago -
European stocks lose momentum after global rally
3 hours ago -
New pulses varieties imperative to cater domestic food requirements: Dr Khalid Hasan
4 hours ago -
CEO KP-EZDMC meets CRBC officials
5 hours ago
-
Pakistan among nine poor countries that produces 90 percent cigarettes for world
5 hours ago -
Chief Minister Gilgit Baltistan Haji Gulbar Khan calls on Minister for Privatisation
6 hours ago -
Germany nudges up growth forecast, ailing economy at 'turning point'
6 hours ago -
Revised UAF budget recommended
6 hours ago -
IDEA, TEVTA organizes Job Fair for youth
6 hours ago -
Massive financial, administrative scam unearthed at SCCI
6 hours ago