Govt likely to divert Rs12b PSDP fund to upcoming polls.

ISLAMABAD -- The federal government is likely to divert Rs 12 billion (approximately 2pc) from the Federal PubAlic Sector Development Programme (PSDP) to the Election Commission of Pakistan (ECP) for conAducting the upcoming elections, it is learnt reliably here. The Planning Commission has imposed a cut of Rs 12 billion on the allocation of 11 developAment projects in the PSDP 2022-23 and has now decided to return the amount to Finance Division for onward transfer to the Election Commission of Pakistan, official source told The Nation.

A summary in this regard will be moved to the competent forum for approval to redirect the funds from developmental to current expendiAture, the source said. The funds will be forwardAed to the election commission of Pakistan for holding the upcoming elections, the source mainAtained. The total rupee component of the PSDP 2022-23 is Rs 667 billion. It is worth to mention here that the Planning Commission had earlier this week imposed a cut on the allocations of 11 slow moving development projects in Public SecAtor Development Programme 2022-23 (PSDP).The total allocations for these projects in the PSDP 2022-23 were Rs 20.403 billion, which has been reduced to Rs 8.403 billion only, the source maintained. The...