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With only 33% released, finance ministry misses its public development target

January 14, 2019

Photo: AFP

The federal finance ministry has released only Rs225.54 billion so far under the Public Sector Development Programme (PSDP), which is only 33% of the annual revised target of Rs675 billion for the 2018-19 financial year. According to the planning and development ministry, at least 40% of the funds should be released in the first two quarters.

In the first quarter of this financial year (July-September) there should be at least 20% funds disbursed while same target was set for the second quarter (October-December). For the third and fourth quarters (Jan-June) a 30% disbursement criteria has been laid down by the government in its official books.

Interestingly, more than 200 development projects, including the Prime Minister Youth and Hunarmand Programme, gas infrastructure development and FATA’s 10-year plan failed to get any funding till January 11, according to an official document available with SAMAA TV.

The commerce division, inter-provincial coordination division and religious affairs and interfaith harmony division were also waiting for the development funds approved for 2018-19.

Related: Government may abolish advance tax on the sale and purchase of Pakistan Stock Exchange shares

Overall, so far Rs85.75 billion has been disbursed to all other federal ministries and divisions, including Rs18.39 billion to the water resources division, Rs11.16 billion to the states and frontier regions division and Rs10.18 billion to the Pakistan Atomic Energy Commission for nuclear power projects.

The Higher Education Commission also managed to get Rs11.80 billion during the first six months of the ongoing fiscal year. The Railways division got Rs8.7 billion while the communication division got Rs4.59 billion.

Special areas like Azad Kashmir and Gilgit-Baltistan were released Rs19.20 billion, temporarily displaced persons (TDPs) Rs1.22 billion and for security enhancement Rs6.68 billion was released. Of the total disbursement of Rs225.54 billion, Rs85.91 was foreign development aid.


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