ISLAMABAD: The federal government has authorized the utilization of development funds amounting to 507.979 billion rupees, out of a total allocation of 940 billion rupees, for different ongoing and new social sector development projects of the federal ministries and divisions during the first 7 months (July-January) of the financial year 2023-24 under its Public Sector Development Programme (PSDP).
Out of the total authorized and disbursed amount, the total amount spent so far on the uplift projects during the same period stood at 190.443 billion rupees, according to the latest data released by the Ministry of Planning, Development, and Special Initiatives.
As per the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20 percent in the first quarter (July-September), followed by 30 percent each in the second and third quarters, and the remaining 20 percent in the last quarter (April-June) of a financial year.
The detail showed that 127.066 billion rupees out of a total allocated amount of 211.777 billion rupees had been disbursed to corporations, including the National Highway Authority, National Transmission and Despatch Company, and Pakistan Electric Power Company.
For the Aviation Division, funds amounting to 3.270 billion rupees have been disbursed and 668.86 million rupees for the Board of Investment.
Other Funds
Likewise, the government authorized 61.312 billion rupees to the Cabinet Division, 2.430 billion rupees to the Ministry of Climate Change, 660 million rupees to the Commerce Division, 126 million rupees to the Ministry of Communications (other than NHA), 1.920 billion rupees to the Defence Division, 960 million rupees to the Defence Production Division, 504 million rupees for the Establishment Division, 5.100 billion rupees to the Federal Education & Professional Training Division, 1.932 billion rupees to the Finance Division, 86.347 billion rupees to Provinces and Special Areas, 35.820 billion rupees to the Higher Education Commission, 21.730 billion rupees to the Housing and Works Division, and 488.40 million rupees to the Human Rights Division.
