Punjab Sets A New Record Of Utilising Development Funds

Punjab Chief Minister Sardar Usman Buzdar said on Thursday that Punjab had set a new record of 96 per cent utilisation of development funds in a period of ten years

LAHORE, (UrduPoint / Pakistan Point News - 28th Oct, 2021 ) :Punjab Chief Minister Sardar Usman Buzdar said on Thursday that Punjab had set a new record of 96 per cent utilisation of development funds in a period of ten years.

He said this while presiding over a meeting to review progress on Annual Development Programme (ADP) schemes. Finance Minister Hashim Jawan Bakht, chairman P&D, secretaries of C&W and finance departments, SMU head and others attended the meeting.

The CM asked the departments to early submit PC-I of their schemes according to relevant rules to speed up the development work.

He appreciated the fact that the Pakistan Tehreek-e-Insaf (PTI) government had presented the largest development budget in provincial history as the collective volume of PSDP and annual development program had reached Rs 740 billion. He said that 66 per cent increase had been made in the current year's development budget.

He further said that the government had started numerous schemes under the ADP valuing Rs 560 billion.

The CM made it clear that delay would not be tolerated as 98 per cent of ADP schemes had already been approved.

Punjab would collect Rs 400 billion revenue in the current financial year from its own resources and it was noteworthy that Rs 51 billion had already been collected in a period of three months which was 41 per cent more than the estimated target, he mentioned.

CM said Punjab was providing various tax exemptions of more than Rs 50 billion to different sectors.

Buzdar said the government was introducing holistic reforms in the pension system, human resource management and property tax to further streamline the system.