ISLAMABAD - The government’s spending on Public Sector Development Programme (PSDP) has reached Rs 120 billion during almost eight months of the current fiscal year 2011-2012, revealed the official figures.

According to the latest figures of the Planning Commission of Pakistan, the government has spent Rs 119.4 billion on Public Sector Development Programme during July-February 24 period against the overall allocation of Rs 220.5 billion for the whole financial year (2011-2012). The PSDP for the current fiscal year has been budgeted at Rs.300 billion, containing Rs.36.5 billion as foreign project aid and Rs.263.5 billion as rupee component out of which Rs.33 billion has been provided under People Works Programme and Rs 10 billion is for the Earthquake Rehabilitation and Reconstruction Authority (ERRA). Releases by Planning and Development Division are made against the allocation of Rs.220.5 billion.

Meanwhile, according to the official figures, the government has released Rs 119.4 billion for the PSDP during the first eight months of the ongoing financial year 2011-2012. According to the break-up of Rs 119.4 billion released during the period under review, the government has released Rs 69.1 billion for infrastructure against the overall allocation of Rs 157.5 billion. Meanwhile, the government has released Rs 49.2 billion for social sector against the overall allocation of Rs 129.2 billion and Rs 1.135 billion has been released for other sectors against the total allocation of Rs 3.3 billion for the whole financial year.

“The releases for the Public Sector Development Programme (PSDP) have been according to the plans and the annual PSDP will achieve 100 percent utilisation of Rs 300 billion budgeted for the year 2011-2012”, said an official of the Planning Commission of Pakistan while talking to TheNation on Saturday. He further said that government is contemplating to fix higher PSDP for the upcoming financial year 2012-2013, which might be around Rs 350 to Rs 360 billion.