ISLAMABAD - The government has so far released Rs 494.994 million for various ongoing and new projects of Revenue Division under the Public Sector Development Programme (PSDP) for the current fiscal year (2017-18).

The government in its Federal PSDP had earmarked Rs 790.100 million for the Revenue Division projects, with foreign exchange component of Rs 105 million, officials sources said.

The government released the total amount of Rs148 million for the establishment of Inland Revenue offices in the country, earmarked for the project in the federal PSDP for the current fiscal year.

An amount of Rs 140.994 million has been released for development of Integrated Transit Trade Management (ITTMS) under ADB Regional Improving Border Service Project.

The total cost of this project has been estimated at Rs 31,626 million which is being developed to modernize facilities at border crossings at Torkham, Chaman and Wagah.

The government has earmarked an amount of Rs 255.375 million for the project this year with foreign exchange component of Rs 100 million.

The government also released Rs 64 million for construction of Regional Tax Office (RTO) Islamabad out of its total allocations of Rs 94 million during the current PSDP.

An amount of Rs 32.5 million have been released for project for Security Improvement in Karachi Port and Port Qasim for Installation of three fixed and one Mobile Scanner with JICA assistance.

The government has earmarked an amount of Rs 55 million for the project with foreign exchange component of Rs 5 million in the PSDP 2017-18, the data revealed.

Meanwhile, the government also released Rs 10 million for feasibilities of MCC Gwadar, RTO Islamabad and Sargodha and Directorate of Intelligence and Investigations (IIR Karachi).

An amount or Rs 10 million has been released for the construction of Regional Tax Office at Dera Ismail Khan while an amount of Rs 28.500 million have been released for purchase of land for establishing Directorate of Transit Trade at Gilgit for CPEC Trade Facilitation.

The government released Rs 44 million for construction of Model Customs Collectorateat Gwadar for which Rs 110 million have been earmarked in the federal PSDP.

It is pertinent to mention here that in total the government has released over Rs 741.597 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes against the total allocations of Rs1,001 billion.

The Planning Commission of Pakistan follows the stipulated mechanism for release of funds: first quarter (July-September) 20 per cent, second quarter (October-December) 20 per cent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 per cent.