Islamabad: The government recently introduced several revisions to its funds disbursement mechanism with an aim to expedite the execution of projects sanctioned for development under the executive’s Public Sector Development Program (PSDP) – a news source reported.
As per details, the government will make 50% of the total annual allocations for development projects in the first half of this fiscal year instead of the current procedure under which only 40% of the PSDP was provided in the first half – 20% for each quarter.
According to a statement released by the Ministry of Finance, the step is aimed at easing funds flow and removing bottlenecks, and is expected to boost economic development.
Additionally, half of the budgetary allocations for approved PSDP projects have been made available to Ministry of Planning & Development by revising Finance Division’s release strategy. Twenty per cent of the release will be made in the first quarter, 30% each in second and third quarters, and the remaining 20% in the last quarter.
