ISLAMABD: The government has released 41 percent funds for the Public Sector Development Programme (PSDP) within seven months (July to January) of the fiscal year (FY2015).
The government is not releasing funds for the PSDP according to its own set criteria apparently to restrict the budget deficit as agreed with the International Monetary Fund (IMF). Under the funds releasing mechanism, the government should have been released 50 percent of the annual development budget during July to January of FY2015.
The government had released a total of Rs216.2 billion – 41 percent of the Rs525 billion annual allocation – for Public Sector Development Programme (PSDP) in the first seven months (July-January) of this fiscal year.
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. According to the declared disbursement policy, the government releases 20 percent in first two quarters and 30pc in each third and fourth quarters of the fiscal year.
CCP approves acquisition of BASF Pakistan by Kemyion Chemical Solutions Trading FZCO
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