Govt releases funds for Bhasha Dam only

ISLAMABAD - Contrary to the tall claims of government to resolve power crisis, it has released funds for a single power project out of 43 during the first five months (July-November) of the ongoing financial year 2011-12, it has learnt on Monday. According to documents of the Planning Commission of Pakistan, the government has released funds only for one of the mega projects Construction of Diamer Bhasha Dam project land acquisition (4500MW), among total 43 developmental projects set for the current fiscal years. However, the government did not release single penny for other 42 power projects. According to figures, some of the power sector projects are the foreign funded and some are local funded projects. Finance Ministrys official told The Nation that majority of the projects are foreign funded that would start when we get financial aid or loan from the other countries and donors agencies including World Bank and Asian Development Bank and others. Meanwhile, according to documents, the government has released Rs 74.7 billion for the PSDP during the five months period (July-November) of the ongoing financial year 2011-12. The government had allocated Rs 300 billion for PSDP for the ongoing fiscal year, wherein Rs 10 billion is allocated for the Earthquake Rehabilitation and Reconstruction Authority (ERRA). According to the break-up of Rs 74.7 billion released during the first five months (July-November) of the ongoing financial year 2011-12, the government has released Rs 37.6 billion for infrastructure against the overall allocation of Rs 157 billion. Meanwhile, the govt has released Rs 36.6 billion for social sector against overall allocation of Rs 129.6 billion and Rs 0.695 billion has been released for other sectors against the total allocation of Rs 3.3 billion for the whole financial year.