Islamabad: Minister for Planning, Development, and Special Initiatives Asad Umar on Wednesday announced that the public sector development program (PSDP) had recorded a six-year high utilisation of 39% in the first eight months of the going fiscal year (FY2019-20) — a news source reported.
The minister revealed that previously, the maximum
utilisation of PSDP was witnessed in the FY 2014-15, when it had reached the 32%
mark. He added that more than 200 projects had been completed under the program
in the current fiscal year.
According to the details available, the government had allocated PKR 701 billion for PSDP 2019-20. This fiscal year however, the government has so far released PKR 465 billion; including PKR 93 billion in foreign aid for PSDP.
Traditionally, 40 percent of PSDP funds were released during
the first two quarters of the fiscal year. However, under the new mechanism, now
half the funds are to be made available in the first two quarters of the year. As
per the reports, the four quarterly releases will now be divided in the
following manner: 20, 30, 30, and 20 percent.
