Finance

PTI Govt. disbursed less than 50 pc for PSDP

Islamabad, March 21, 2019: Pakistan Tehreek-e-Insaf (PTI) government has released less than 50 percent budgeted funds for different development projects under the Public Sector Development Programme (PSDP).

PSDP is the most important fiscal policy tool to achieve socio economic targets as envisaged in the Vision 2025 by channelizing scarce public resources to projects having complementary and crowding in impact on economic activities.

However, despite that it seems that PTI government is not focusing it mainly due to shortfall in revenue.

According to the latest data of PSDP released by Ministry of Planning, Development and Reforms, the federal government has released Rs 319.305 billion for different development projects under PSDP during 1st July 2018 to 22nd Feb as against the total budgeted allocation of Rs 675 billion for current fiscal year.

The released amount is some 47.3 percent of the total allocated funds of Rs 675 for FY19 and included Rs 121.48 billion of foreign funding and Rs 197.824 billion of domestic sources.

A total of Rs 137 billion including Rs 118 of domestic and Rs 19 billion of foreign aid were disbursed for development projects of various ministries and divisions against Rs 291.55 billion budgeted allocation.

However, the PTI government did not release a single penny of development funds so far for Commerce Division and Inter-Provincial Coordination Division during this year, the data showed.

The Ministry of Planning, Development and Reforms has released a total of Rs 123.36 billion out of Rs 185.2 billion budgeted allocation for various development projects of National Highway Authority (NHA) and Rs 13.6 billion out of Rs 33.36 billion budgeted allocation for the NTDC and PEPCO.

Out of allocated Rs 43 billion, the government has released Rs 26 billion for development projects of special areas including Azad Jammu and Kashmir and Gilgit-Baltistan.

AJK got Rs 17.6 billion against the total budgeted allocation of Rs 25.86 billion and an amount of Rs 8.2 billion was release for development project of Gilgit-Baltistan out of Rs 17.53 billion budgeted allocation for current fiscal year-2018-19.

Read More: https://thebizupdate.com/wp-admin/post.php?post=1113&action=edit

Water Resources Division got highest fund Rs amounted to Rs 26.83 billion followed by Higher Education Commission Rs 18.503 billion, Pakistan Atomic Energy Commission Rs 18.218 billion, Railways Division Rs 17 billion and SUPARCO Rs 11 billion during this fiscal year upto February 22, 2018.

Ultimate goal of the spending under PSDP is to further strengthen physical and social infrastructure to put our country on sustainable and high growth trajectory.

The PSDP 2018-19 has been formulated on the basis of development priorities of the government through consultative and participatory approach with the agencies concerned.

The Ministry of Planning, Development and Reform has aligned PSDP 2018-19 with Sustainable Development Goals (SDGs), Long Term Plan of CPEC and Vision 2025 goals of putting people first, sustained indigenous and inclusive growth, water, energy and food security, private sector led growth, developing competitive knowledge economy and modernization of transport infrastructure and greater regional connectivity.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close