ISLAMABAD - Over stepping for its own laid down criterion; Planning Commission of Pakistan has expeditiously released 41 per cent funds for PSDP projects in five months, otherwise to be released over the span of six months, ostensibly as part of the ruling alliance informal launching of election campaign.

According to fund releasing mechanism of the Planning Commission of Pakistan, the Commission releases 40 per cent of the overall PSDP in first two quarters (July-September) and (October-December), 25 percent in third quarter (January-March) and 35 percent in the fourth quarter (April-June). However, the Commission has released almost 41 per cent of the funds in five months (July-November), which were supposed to be released in six months (July-December).

Sources informed that government is focusing on Public Sector Development Programme (PSDP) by completing the developmental projects keeping in view the upcoming general elections. Sources were of the view that government would release the whole PDSP volume well before the end of current fiscal year (June 30 2013) if current pace of releasing funds continue in next couple of months. Sources said that government wants to complete the ongoing developmental projects ahead of general elections for which it is releasing funds expeditiously in the current financial year 2012-13.

According to latest figures of Planning Commission of Pakistan, the government has released Rs 95.3 billion for PSDP during the first five months (July-November) of the ongoing financial year 2012-13, which is 40.90 per cent of the overall allocation of Rs 233 billion.

According to the official figures of the Planning Commission of Pakistan, the government released Rs 87.3 billion for Public Sector Development Programme in the first four months (July-October) of the current fiscal year. The government has planned to spend Rs 360 billion on the PSDP during the current financial year 2012-13 wherein government would release Rs 233 billion, foreign aid/loan would be Rs 100 billion and Rs 27 billion are for the special programmes.

The break-up of released Rs 95.3 billion for PSDP revealed that government released Rs 51.6 billion for infrastructure during the first five of the current fiscal year against the overall allocation of Rs 125.3 billion to be made by government sans foreign aid in the current fiscal year. Similarly, the government released Rs 40.6 billion for social sector as against overall allocation of Rs 127.7 billion. Meanwhile, Rs 2 billion has been released for Earthquake Rehabilitation and Reconstruction Authority (ERRA) during the period under review against the overall allocation of Rs 10 billion for the whole financial year. Similarly, the government has released Rs one billion for other sectors against the overall allocation of Rs 3 billion to be made throughout the fiscal year.

It is pertinent to mention here that government has kept funds for 1097 projects, whose overall cost is around Rs 2,936.8 billion. However, the government has allocated to spend Rs 360 billion within the ongoing fiscal year for which the government would get Rs 100 billion from foreign resources that included aid and loans.