ISLAMABD: The federal government has released 41 per cent funds for the Public Sector Development Programme (PSDP) during first seven months of ongoing financial year as it should have released 50 per cent of annual budget from July to January.
The government had released a total of Rs216.2 billion – 41 percent of the Rs525 billion annual allocation – for the PSDP in the mentioned period. Under its declared disbursement policy, the government should have released at least Rs262.5 billion – or 50pc of total allocation (40 percent in first half and 10 percent of January) – by the end of last month. 20 percent were released in first two quarters and 30pc in each third and fourth quarters of the fiscal year.
The break-up of the annual PSDP target of Rs525 billion revealed that Rs422.78 billion would come from government’s resources and Rs102.22 billion from foreign aid.
According to the documents, the government has released Rs216.2 billion out of total Rs133.7 billion for the development projects of the 37 federal ministries, Rs45.2 billion for two corporations, Rs19.5 billion for special areas and Rs5.24 million for the ERRA during July-January FY2015.
Meanwhile, the government has released Rs12.5 billion to achieve millennium development goals of basic human requirements like food, health and education.
