Planning Commission Clarifies News Item Regarding Release Of Development Funds

The Planning Commission has clarified on Saturday that a news item published in certain sections of media regarding authorization of PSDP funds during 2019-20 that the Ministry of Planning, Development and Reform has processed all demands received for authorization till August 16, 2019 against PSDP allocation

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Aug, 2019 ) :The Planning Commission has clarified on Saturday that a news item published in certain sections of media regarding authorization of PSDP funds during 2019-20 that the Ministry of Planning, Development and Reform has processed all demands received for authorization till August 16, 2019 against PSDP allocation.

"As per Release Strategy issued by the Finance Division on July 15, 2019, 20 percent of the PSDP allocation has to be authorized for PSDP funded projects," a Plannaing Commission press release said.

It said the Ministry of Planning, Development and Reform had to authorize Rs 89 billion during the first quarter which was 20% of the amount (in Pak rupees) earmarked in current PSDP.

"Out of the demand of Rs 56 billion received from all Federal entities, this ministry has authorized Rs 22.6 billion to different ministries/divisions, which meet SOP/codal formalities for release authorization. The remaining was not authorized mainly due to non-fulfillment of codal formalities."The remaining amount, it said, would be released as soon as the ministries fulfilled the formalities. It would not be out of place to highlight that during last financial year Ministry of Planning, Development and Reform authorized releases of 97% of PSDP 2018-19, the press release added.