Planning Ministry releases Rs129bn for development projects under PSDP

The Water Resource Division and the Higher Education Commission (HEC) have been given top priority

ISLAMABAD (Web Desk) - The Ministry of Planning, Development & Special Initiatives has released Rs129 billion for development projects under the Public Sector Development Programme (PSDP) for the fourth quarter of FY23.

According to the ministry, the Water Resource Division and the Higher Education Commission (HEC) have been given top priority.

In the last quarter of (2021-22), there was a zero release for PSDP, which resulted in the government shrinking the PSDP from Rs700bn to 550bn.

According to the latest data provided by the Planning Ministry, an amount of Rs129bn has been released for development projects under PSDP for the fourth quarter (2022-2023), including Rs27bn for Azad Jammu and Kashmir, Gilgit-Baltistan and Ex-FATA.

The statement said an amount of Rs30bn has been released to the Power Division to speed up the projects like Diamer-Bhasha Dam, Mohmand Dam, Kachi Canal, Nai Gaj Dam, while Rs22bn have been released for the Ministry of Communication to expedite the projects like Khuzdar-Kuchlak Road, Dualization & Improvement of Old Bannu Road.

An amount of Rs8bn has been released for the HEC to complete projects. Similarly, an amount of Rs4bn has been released for the Ministry of Housing and Works, Rs8bn for the Ministry of Railway, while Rs5bn have been released for the Power Division.

Planning Minister Ahsan Iqbal has been constantly struggling to cope with the economic challenges and has taken several initiatives for the country’s development, particularly the development of Balochistan which was badly devastated in recent floods.

The ministry is committed to allocating funds for development projects despite financial constraints, the statement concluded.