Over Rs 2.342 Bln Released For Finance Division Projects

Over Rs 2.342 bln released for Finance Division projects

ISLAMABAD, (Pakistan Point News - APP - 30th Jan, 2017 ) : The government has so far released Rs 2,342 million for various projects of Finance Division out of its total allocations of Rs 9,115 million earmarked under the Public Sector Development Programme (PSDP) for the fiscal year 2016-17. An amount of Rs 500 million has been released for Greater Karachi Water Supply Scheme (K-IV) Karachi out of its total allocations of Rs1000 million allocated in the Federal PSDP.

The project is being executed on 50:50 cost sharing basis, according to data of Ministry of Planning, Development and Reforms. The government also released Rs400 for Gawadar Development Authority out of its total allocations of Rs1000 million while Rs163 million have been released for construction of Flyover at Koyala Phattak, Samangli Road Quetta. According to the data, the federal government provided an amount of Rs280 million for Greater Karachi Sewerage out of its 33 percent expenditure share in the project.

The government released Rs 160 million for Khyber Institute of Child Health and Children Hospital (District Peshawar) out of its total allocations of Rs 400 while Rs 100 million have been provided for widening and carpeting of Booni-Buzand Torkhow Road Chitral out of its total allocations of Rs250 for PSDP 2016-17. The government has also release Rs 80 million for construction of fish landing jetty and allied harbor facilities at Pishukan Gwadar while an amount of Rs 80 million have been provided for construction of fish landing jetty and allied harbor facilities at Surbandar East Bay Gwadar.

The federal government would be sharing 80 percent cost of both these projects. An amount of Rs58 million has been released for construction of Eastern and expansion of Southern sewerage treatment plants under Hyderabad package while Rs52 million have been provided for construction and improvement of roads in urban areas of Hyderabad district. As many as Rs172 billion have been provided for Phase-II of Debt for education SWAP-II (German Assisted) while an amount of Rs59 have been released for capacity building of teachers training institutions and training of elementary school teachers in Punjab.

It is pertinent to mention here that the government has so far released Rs 363.980 billion for various ongoing and new projects of all the ministries and divisions under PSDP 2016-17 out of its total Rs800 billion allocations. The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism. The commission releases 20% of funds in first quarter (July-September), 20% in second quarter (October-December), 30% third quarter(January-March) and 30% in fourth quarter (April-June). APP/maw/aa/kmd � 12:43/12:55/12:55