Lahore: The Punjab Finance Department on Monday (October 11) released PKR 221 billion for various development projects scheduled for the first quarter of the fiscal year (FY-2021-22) in the province, news sources reported. The released funds are PKR 86 billion higher than the amount released in the first quarter of the last fiscal year of 2020-21.
According to Punjab Finance Secretary Iftikhar Ali Sahoo, the funds were granted following a thorough review of the projects in conjunction with the Punjab Development Board (PDB). As of July 1, the government has disbursed 100% of the money for all current projects, totalling PKR 144 billion for the first quarter. Furthermore, the Punjab government has allotted PKR 560 billion for public sector development projects (PSDP) at the start of the fiscal year 2021-22, which is 66 % more than the money authorised for the previous fiscal year.
According to reports, the ongoing development projects approved for the public sector account for 63% of the overall Annual Development Programme (ADP) expenditure for FY 2021-22.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
