ISLAMABAD-Owing to slow pace of work on development projects, the Ministries/Divisions have utilised only Rs76,002.7 billion (8 percent) of the PSDP allocation of Rs950 billion during the first four months of the ongoing fiscal year, while the big chunk of the expenditure (36 percent) has been utilised for the parliamentarians schemes.
Out of the PSDP 2023-24 funds allocation of Rs 950 billion, the Ministry of Planning, Development and Special Initiatives has authorized the release of Rs300.904 billion (31.904 billion) during the first four months (Jul to Oct) of the ongoing fiscal year, official data reveals. The federal government has allocated Rs 950 billion for the PSDP 2023-24, including the rupee component of Rs 875 billion and Rs 75 billion foreign exchange components. Of the authorized Rs 300.904 billion, Rs274.654 billion was rupee component, while Rs 26.250 billion was foreign exchange component. However, the utilization was only 8 percent of the total allocations of Rs 950 billion, while only 25 percent of the authorized amount of Rs 300.904 billion.
A big chunk of expenditures was incurred by the parliamentarians schemes, which is Rs27.153 billion (36pc) under SDGC, followed by the provinces and special areas Rs 25.905 billion (34pc) and the remaining Rs 22.944 billion (30pc) by the entire ministries, divisions, corporations, and Prime Minister Initiatives. For the Prime Minister Initiative, Rs 250 million of the allocated amount of Rs 80 billion have been authorized and utilized. Similarly, for the corporations including NHA,NTDC/PEPCO only Rs 61.344 billion have been authorized, while the utilization was mere Rs 11.634 billion. For the provincial and special areas out of the allocation of Rs 166.750 billion, the Planning Ministry has authorized Rs 43.265 billion, while the utilization was Rs 25.905 billion. Out of the allocation of Rs 90.120 billion for the parliamentarians schemes under SDGs, Rs 61.282 billion were authorized, while Rs 27.153 billion were utilized during the first four months of the FY 2023-24. For the Water Resources Division release of Rs 38.675 billion was authorized, while the utilization was only Rs 526 million.
For the Railway Division, a release of Rs 11.557 billion, against the allocations of Rs 32.690 billion, has been authorized, while the utilization was only Rs 1.5 billion. According to the release strategy, the Planning, Development and Special Initiatives (PD&SI) Division will release funds for the development budget out of the Public Sector Development Programme (PSDP) allocation for the current fiscal year 2023-24 for approved projects at 15 percent for 1st quarter, 20 percent for 2nd quarter, 25 percent for 3rd quarter, and 40 percent for 4th quarter.
Source: nation.com.pk
