The Planning Commission has released Rs 95.3 billion under its Public Sector Development Programme (PSDP) against a total allocation of Rs 233 billion for the fiscal year 2012-13.
Around Rs 51.6 billion have been released for 344 infrastructure development projects while Rs 40.6 billion have been set aside for 673 social sector projects, according to Planning Commission’s latest data. Similarly, Rs1 billion have been released for 68 other projects and Rs 2 billion for Earthquake Reconstruction and Rehabilitation Authority (ERRA). This amount has been released against the total sum of Rs 233 billion allocated to the PSDP.
It is pertinent to mention that the total amount set aside for PSDP in the year 2012-13 is Rs 360 billion, including Rs 100 billion in foreign aid, that would be managed by the Economic Affairs Division, and Rs 27 billion in special programmes which would be released by the Cabinet Division or Finance Division.
According to break up details, the total cost of 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. The total cost of social sector projects had amounted to Rs 547.1, of which Rs136.2 billion had been allocated in the current PSDP.
The estimated cost incurred on other projects was Rs 40.6 billion, out of which Rs 3 billion had been earmarked in the PSDP, while Rs10 billion had been set aside for ERRA in the current development programme.
The Planning Commission had been following a proper mechanism for the release of funds. It was supposed to release 20 percent of funds in the first quarter (July-September), 20 percent in the second quarter (October-December), 25 percent the third quarter (January-March) and 35 percent in the fourth quarter (April-June).
