Rs224.5bn disbursed under PSDP in five months of fiscal year
Last updated on: 02 January,2023 03:37 pm
Rs224.5bn disbursed under PSDP in five months of fiscal year
ISLAMABAD, (APP) - The Federal Government has authorized the utilization of development funds amounting to Rs 224.5 billion out of a total allocation of Rs727 billion for various ongoing and new social sector uplift projects of the federal ministries and division in the first five months (July-November) of the fiscal year 2022-23 under its Public Sector Development Programme (PSDP).
Out of the total authorized/disbursed amount, the total amount spent so far on the development projects during the corresponding period stood at Rs130.6 billion.
According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20% in the first quarter (July-September), followed by 30% each in the second and third quarters, and the remaining 20% in the last quarter (April-June) of a fiscal year.
The government also authorized/disbursed Rs100 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA) out of which Rs 96.33 billion have been spent, according to the latest data released by the Ministry of Planning, Development, and Reform.
The detail shows that Rs 64.8 billion out of a total allocated amount of Rs 160.2 billion have been disbursed to corporations while Rs 159.6 billion have been disbursed to the federal ministries out of a total allocation of Rs 563.3 billion.
For National Highway Authority (NHA), the government has disbursed Rs 30.2 billion out of a total allocation of Rs 117.2 billion, whereas for NTDC/PEPCO, the government has disbursed Rs 34.69 billion.
The federal government has also disbursed/authorized Rs 87 billion out of a total allocation of Rs 87 billion for various development projects of the cabinet division, however, only Rs 11 billion have been spent on the development projects of the cabinet division so far.
Similarly, the data shows that Rs 495 million has been disbursed to Aviation Division, and Rs 161.5 million have been disbursed to the Board of the Investment.
The government also authorized the utilization of Rs 1.9 billion for Climate Change Division out of which only Rs 58 million have been spent during the period under review.
For Higher Education Commission (HEC), the government has authorized the release of Rs 7.78 billion, Rs 25.2 billion for provinces and special areas, Rs 435 million for Commerce Division, Rs 36 million for Communication Division (other than NHA), and Rs 445 million for Defense Division.
Likewise, the government also disbursed Rs 286 million to Finance Division, Rs 355.85 million to Establishment Division, Rs 1.4 billion to Federal Education and Professional Training Division, and Rs 4.3 billion to Housing and Works Division.