Minister Reviews HEC Projects Under PSDP
ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Sep, 2021 ) :Minister for Planning, Development and Special Initiatives Asad Umar and Minister for Federal education and Professional Training Shafqat Mehmood jointly chaired the meeting to review the progress of PSDP 2021-22 portfolio of Higher Education Commission (HEC) with emphasis to complete maximum number of ongoing projects in FY 2021-22 and FY 2022-23.
The meeting also reviewed rationalize funding of ongoing new projects to ensure diversion of funds to projects close to completion.
Ministry of Planning, Development & Special Initiatives (MoPD&SI), Ministry of Federal Education & Professional Training (MoFE&PT) and Higher Education Commission (HEC) have been working in close collaboration for the last one month to review the PSDP 2021-22 portfolio of HEC and develop strategy to ensure completion of maximum projects by June 2023.
The Prime Minister directed Minister for PD&SI and Minister for FE&PT to further review the development portfolio of HEC with emphasis to complete maximum number of ongoing projects in FY 2021-22 and FY 2022-23 and rationalize funding of ongoing / new projects to ensure diversion of funds to projects close to completion.
In the light of directions from the Prime Minister today HEC informed the meeting that HEC has been allocated Rs 42.45 billion in PSDP 2021-22 for 168 projects. This includes Rs 29.74 billion for 128 ongoing projects and Rs 12.71 billion for 40 new projects.
The total cost of 168 projects is Rs 347.4 billion. The expenditure incurred on these projects by June 2021 is Rs 116.92 billion while the throw-forward is Rs 230.48 billion. PSDP 2021-22 allocation for these projects is Rs 42.
It was also informed that the breakup of 168 schemes reveals that 112 projects are ongoing projects of universities / HEC, 16 are ongoing scholarships schemes, and 40 new projects.
The PSDP 2021-22 allocation for these 75 projects is Rs 15 billion. In order to complete these projects this allocation needs to be revised to Rs 17.5 billion (additional Rs 2.5 billion in FY 2021-22).
While remaining Rs 22.5 billion will be required in FY 2022-23. Out of 75 projects, 28 will be completed by June 2022. These projects have cumulative cost of Rs 39 billion with a throw-forward of Rs 3.7 billion. This throw-forward is already catered for in PSDP 2021-22.
HEC earlier worked out completion of 34 projects by June 2023. However, in later exercises with MoPD&SI and MoFE&PT the number was revised to 47 projects (13 additional projects to be completed).
The total cost of these 47 schemes is Rs 70 billion with expenditure of Rs 34 billion by June 2021 and throw-forward of Rs 36 billion. These projects have an allocation of Rs 11 billion in FY 2021-22. It is proposed to revise this allocation to Rs 13.7 billion (additional Rs 2.7 billion in FY 2021-22). These 47 projects will need an amount of Rs 18.5 billion in FY 2022-23 for completion and Rs 3.8 billion for subsequent operational needs.
Minister for Planning and Minister for FE&PT appreciated the laborious worked done by HEC and MoPD&SI team.
Asad Umar requested Minister for FE&PT to review 16 projects originally planned for completion in 2023-24 and work out possibility for accelerating their completion by June 2023.