Islamabad: The Minister for Planning and Development Asad Umar tweeted on Tuesday (July 27) and said that the annual spending under the Public Sector Development Programme (PSDP) during the fiscal year 2020-21 has surpassed the annual target with 101.4% funds spent of the total allocated budget, news sources reported.
A total of PKR 659 billion has been spent on development projects across the country against the allocated amount of PKR 650 billion. Minister Umar shared the news via a microblogging platform and said that the spending is the highest since the fiscal year 2011-12 and associated the ‘exceptionally high development spending’ with Prime Minister Imran Khan’s resolve to accelerate national economic growth.
Reportedly, the PSDP spending remained low (during the first 10 months of the FY 2020-21 at around PKR 373.8 billion (57.5%) and only increased during the last two months of the financial year.
Previously, the federal government had allocated PKR 553 billion during the fiscal year 2019-2020, of which only PKR 540.7 billion was utilised, showing a surplus budget. During this fiscal year (FY) 2021-22, the federal government has allocated PKR 900 billion for the PSDP, which is the highest so far. As of now, the government has already released PKR 133.6 billion in the first 16 days of the fiscal year – which is 14.85% of the annual budget.
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