Govt Releases Rs 7.761b For Agri Sector Development Projects

Muhammad Irfan Published May 17, 2022 | 09:14 PM

The government has so far released funds amounting over Rs 7.761 billion to execute 26 ongoing and 07 new agriculture-related projects under its Public Sector Development Program (PSDP) for financial year 2021-22 in order to promote agriculture and livestock sectors in the country

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th May, 2022 ) :The government has so far released funds amounting over Rs 7.761 billion to execute 26 ongoing and 07 new agriculture-related projects under its Public Sector Development Program (PSDP) for financial year 2021-22 in order to promote agriculture and livestock sectors in the country.

The government had allocated an amount of Rs 12.017 billion in its annual developmental agenda for different agriculture sector uplift projects of the Ministry of National food Security and Research to attain sustainable agriculture growth and economic development in the country.

According to the official data, an amount of Rs 7.761 billion has been authorized/disbursed out of the total allocation of Rs 12.017 billion for on-going and new developmental schemes.

The government had allocated an amount of Rs 8,139.166 million for the completion of on-going development projects in Public Sector Development Program for financial year 2021-22.

Meanwhile, an amount of Rs 3,878.114 million had allocated for initiating 08 new development projects in order to enhance per-acre crop output of all major crops, oil seeds and natural resource conservation.

In order to promote cotton crop in the country, the government had allocated an amount of Rs 200 million for horizontal development of cotton in Khyber Pakhtunkhwa and and Balochistan through capacity building, technology transfer and ginning facilitation under Prime Minister Emergency Program.

The government was also intended to spent Rs 955.472 million on the promotion of olive cultivation on commercial scale,phase II for reducing reliance on imported edible oil.

It is worth mentioning here that government was releasing funds as per following quarterly ceilings: first quarter from July , September 20 percent, second quarter October, December 30 percent,, third quarter from January � March) 30 percent and fourth quarter April, June 20 percent.