Slow fund release halts uplift plans

2018-08-16T01:06:28+05:00 Imran Ali Kundi

ISLAMABAD - All major development projects are halted in the country due to change in government, as Planning Commission has released meagre two percent of the annual development budget in almost one and half month (July to August 10) of the current fiscal year.

The Planning Commission has disbursed only Rs22.78 billion under Public Sector Development Programme (PSDP) in almost one and half month of the ongoing fiscal year.

"Pace of slowdown in releasing development funds is due to transition period in governments," said an official of the ministry of finance. He informed that pace of releasing development would be accelerated after formation of new government in next few days.

The federal government had earmarked Rs1030 billion for the PSDP for the ongoing fiscal year 2018-19. The Planning Commission normally releases 20 percent of funds in the first quarter (July to September), 20 percent in the second quarter (October to December), 30 percent in the third quarter (January to March), and 30 percent in the fourth quarter (April to June).

However, the Planning Commission has released only two percent of the annual budget in first hand half month of the first quarter.

According to the figures, the Planning Commission has released Rs17.9 billion for 42 federal ministries and Rs4.7 billion for the special areas, including Azad Kashmir, Gilgit-Baltistan and the tribal areas.

The Planning Commission has released Rs4.63 billion for the Higher Education Commission (HEC), which was followed by Pakistan Atomic Energy Commission that received Rs4.62 billion during the period under review. Similarly, the Interior Division has received Rs2.58 billion under PSDP during the period from July to August 10.

The Planning Commission has released Rs821.9 million for its own division. National Health Services, Regulations AND Coordination Division has received Rs480 million and Defence Production Division received Rs380 million during the period under review.

The break-up of Rs1030 billion federal PSDP showed that previous PML-N government had kept Rs100 billion as block allocations for the new government during ongoing fiscal year.

Ministries/Divisions would receive Rs407.6 billion.

The corporations - including NHA and Wapda - would receive Rs237.7 billion which includes Rs109 billion component and Rs128 billion Foreign Exchange Component (FEC).

The IDPs, security enhancement, Prime Minister Youth Initiative and GIDS have Rs105 billion. Rs5billion allocated for Pakistan's SDGs Community Development programme, Rs5billion for special provision for completion of the CPEC projects, Rs8.5 billion for ERRA, Rs10 billion for the Special FATA programme and Rs5billion for the SDGs.

To bring Fata in the mainstream, ten years' Fata development plan with total outlay of Rs100 billion has been approved by the government. During 2018-19, Rs10billion is proposed for implementation of the plan.

 

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