PSDP 2023-24: Govt. Releases Rs 302.632b Funds In Five Months

PSDP 2023-24: Govt. releases Rs 302.632b funds in five months

ISLAMABAD, (UrduPoint / Pakistan Point News - 7th Dec, 2023) The Federal Government has authorized the utilization of development funds amounting to Rs302.632 billion, out of a total allocation of Rs940 billion, for various ongoing and new social sector uplift projects of the federal ministries and divisions during the first four months (July-November) of the fiscal year 2023-24 under its Public Sector Development Programme (PSDP).

Out of the total authorized/disbursed amount, the total amount spent so far on the development projects during the corresponding period stood at Rs117.240 billion, according to the latest data released by the Ministry of Planning, Development and Special Initiatives on Thursday.

According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20 percent in the first quarter (July-September), followed by 30 percent each in the second and third quarters, and the remaining 20 percent in the last quarter (April-June) of a fiscal year.

The detail shows that Rs61.344 billion out of a total allocated amount of Rs211.777 billion have been disbursed to corporations including National Highway Authority (NHA), National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO), while Rs1.978 billion have been disbursed to the Prime Minister’s Initiatives and Project Liabilities schemes out of a total allocation of Rs75 billion.

For the Aviation Division, funds amounting to Rs1.907 billion have been disbursed and Rs 390.17 million for the board of Investment.

Similarly, the government authorized Rs 61.282 billion to the Cabinet Division, Rs 1.417 billion to the Ministry of Climate Change, Rs 385 million to the Commerce Division, Rs 126.

14 million to the Ministry of Communications (other than NHA), Rs 1.120 billion to the Defence Division, Rs 560 million to the Defence Production Division, Rs294 million for the Establishment Division, Rs2.975 billion to the Federal education and Professional Training Division, Rs1.127 billion to the Finance Division, Rs43.265 billion to Provinces and Special Areas (Previously Under FD/KA&GB), Rs20.895 billion to the Higher Education Commission, Rs14.238 billion to the Housing and Works Division, Rs284.90 million to the Human Rights Division, Rs1.050 billion to the Industries and Production Division, Rs700 million to the Information an Broadcasting Division, Rs2.100 billion to the Information Technology and Telecom Division, Rs665 million to Inter Provincial Coordination Division, Rs3.482 billion to the Interior Division, Rs490 million to the Law and Justice Division, Rs505.25 million to the Maritime Affairs Division, Rs52.50 million to the Narcotics Division, Rs3.097 billion to the National food Security and Research Division, Rs3.177 billion to the National Health Services, Regulations and Coordination Division, Rs250 million to the National Heritage and Culture Division, Rs52.50 million to the Pakistan Nuclear Regulatory Authority, Rs777.73 million to Petroleum Division, Rs7.345 billion to the Planning, Development and Special Initiatives Division, Rs175 million to the Poverty Alleviation and Social Safety Division, Rs11.557 billion to the Railway Division, Rs280 million to the Religious Affairs and Interfaith Harmony Division, Rs1.120 billion to the Revenue Division, Rs2.800 billion to the Science and Technological Research, Rs337.48 to the States and Frontier Regions Division and Rs38.675 billion to the Water Resources Division.