Planning Commission releases Rs 90.4b for development projects


Pakistan Planning Commission has so far released Rs 90.4 billion under its Public Sector Development Programme (PSDP), against the total allocation of Rs 233 billion for the fiscal year 2012-13.
Out of the total amount, Rs 51.6 billion had been released for 344 infrastructure development projects, while Rs 35.8 billion for 673 social sector projects had been released till November 23, according to the latest data of the Planning Commission.
Around Rs 1.0 billion had been released for 68 other projects and Rs 2 billion had been given to the Earthquake Reconstruction and Rehabilitation Authority (ERRA). The total amount of the PSDP for the year 2012-13 was Rs 360 billion, including Rs 100 billion in foreign aid, which was to be managed by the Economic Affairs Division and Rs 27 billion in special programmes, the release of which was made by the Cabinet Division or Finance Division. According to break up details, the total cost of the 344 infrastructure projects had been estimated at Rs 2,346.4 billion, out of which Rs 210.9 billion had been earmarked in the 2012-13 budget that included Rs 85.6 as foreign aid.
Likewise, the total cost of social sector projects was Rs 547.1, out of which Rs 136.2 billion had been allocated in the current PSDP with foreign aid of Rs 8.4 percent. The cost of other projects had been estimated at Rs 40.6 billion out of which Rs 3 billion had been earmarked in the PSDP 2012-13, while Rs 10 billion had been earmarked for ERRA in the current development programme.
The Planning Commission had been following a proper mechanism for the release of funds. The commission released 20 percent of funds in first quarter (July-September), 20 percent in the second quarter (October-December), 25 percent in the third quarter (January-March) and 35 percent in the fourth quarter (April-June).