ISLAMABAD - The government has almost met the target of releasing funds for Public Sector Development Programme (PSDP) during first half (July-December) of the current fiscal year 2013-2014, as it released Rs 167 billion in the period under review.

The government was supposed to release Rs 170 billion (40 percent of the overall allocation) for PSDP during first half (July-December) of the current fiscal year, however, it released Rs 167 billion in the said period.

Therefore, the target has almost been met.  The PML-N government has set aside Rs 540 billion for meeting the development needs of the country and out of that Rs 425 billion are at the disposal of the Ministry of Planning and Development. An amount of Rs115 billion have been earmarked for new initiatives by the government. The break-up of federal PSDP worth of Rs540 billion revealed that Rs115 billion has been kept for new development initiatives, Rs110 billion would come from foreign aid and Rs315 billion would be released by Planning Commission of Pakistan.

According to the break-up of Rs 167 billion released in July-December period of the year 2013-2014, the government spent Rs 91.38 billion on different ministries and divisions, Rs 52.171 billion on corporations like National Highway Authority and WAPDA, Rs 18.89 billion on special areas like Azad Jammu and Kashmir, Gilgit Baltistan and FATA/SAFRON and Rs 4.538 billion on ERRA.

The figures revealed that government has released Rs 16.23 billion for Water and Power division, Rs 11.446 billion for Railway division, Rs 33.31 billion for Pakistan Atomic Energy Commission, Rs 10.504 billion for National Health Services Regulation and Coordination division, Rs 7.396 billion for Higher Education Commission and Rs 2.985 billion for Finance division. Meanwhile, the government has released Rs 20.03 billion for National Highway Authority and Rs 21.141 billion for WAPDA.

The break-up of spending on special areas showed that government has spent Rs 5.36 billion on Azad Jammu and Kashmir, Rs 4.471 billion for Gilgit Baltistan and Rs 9.053 billion for FATA/SAFRON during first half of the ongoing fiscal year.