Govt shorten release process of PSDP to speed up process.

ISLAMABAD -- The Finance Division has shortened budget release process for Public Sector Development Programme (PSDP) to speed up the process of development projects and schemes.

As per the vision of Prime Minister Imran Khan, this step is aimed at easing funds flow and to remove bottlenecks, to spur economic development, said a press release issued by Ministry of Finance here on Thursday.

The steps include increased availability of funds, friendly processes and incentives for early and proper utilization of funds.

According to press release, through new measures half of the budgetary allocations for approved PSDP projects have been made instantly available to Ministry of Planning and Development by revising Finance Division's release strategy.

Now 50 percent funds are available for the first two quarters, without any complication. The quarter wise release will be 20:30:30:20. There shall be incentive of advance releases to the executing agencies which will utilize funds appropriately within required time period.

There shall be no ways and means for clearance by the Finance Division for the approved PSDP projects for the first three quarters of the financial...