ISLAMABAD - The Planning Commission of Pakistan (PCP) has so far released Rs 104.4 billion under its Public Sector Development Programme (PSDP) against the total allocations of Rs 233 billion for the fiscal year 2012-13.
Out of total, Rs 55.7 billion have been released for 345 infrastructure development projects while Rs 42.6 billion for 688 social sector projects was released up to December 29, according to the latest data of the Planning Commission.
Similarly, Rs 1.1 billion have been released for 68 other projects and Rs 2 billion for Earthquake Reconstruction and Rehabilitation Authority (ERRA).
According to data, these releases have been made against Rs.233 billion PSDP allocations.
It is pertinent to mention here that the total size of the PSDP for the year 2012-13 is Rs.360 billion, including Rs.100 billion foreign aid, which is managed by Economic Affairs Division and Rs.27 billion special programmes, release of which are made by Cabinet Division or Finance Division.
According to break-up details, total cost of 345 infrastructur projects has been estimated at Rs 2346.7 billion, out of which Rs 211.1 billion have been earmarked in the 2012-13 budget that include Rs 85.6 billion as foreign aid.
Likewise, the total cost of social sector projects is Rs. 549.8 billion, of which Rs.135.9 billion have been allocated in the current PSDP with foreign aid of Rs 8.4 billion.
The cost of other projects has been estimated at Rs. 40.6 billion out of which Rs.3 billion have been earmarked in the PSDP 2012-13 while Rs.10 billion have been earmarked for ERRA in the current development programme.
The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.
The commission releases 20 percent of funds in first quarter from July to September, 20 percent in second quarter (October-December), 25 percent in third quarter (January-March) and 35 per cent in fourth quarter (April-June).