Business

Govt releases Rs 9.94 bln for development projects under PSDP 2018-19

The government has released over Rs 9.94 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes against the total allocations of Rs 1,030 billion.
The released funds include Rs 5.2 billion for federal ministries and Rs 4.7 billion for special areas, according to latest data released by Ministry of Planning, Development and Reform.
Out of these allocations, the government has released Rs 4.628 billion for Pakistan Atomic Energy Commission for which Rs 30.4 billion have been allocated for the year 2017-18, whereas for Maritime Affairs Division, an amount of Rs 334 million has been released out of total allocation of Rs 10.1 billion.
Similarly, Rs 200 million have been released for Cabinet Division for which the government has earmarked Rs 1.1 billion under PSDP 2017-18.
The government has also released Rs 4.7 billion for AJK (block and other projects) out of its allocations of Rs 29.8 billion for the FY2018.
The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism. The commission releases 20% of funds in first quarter (July September), 20% in second quarter (October December), 25% third quarter (January March) and 35% in fourth quarter (April June).