PIAF wants full utilization of development funds to spur economic growth.

LAHORE -- The Pakistan Industrial and Traders Association Front has asked the government to make full utilization of development budget both at the federal as well as provincial levels to encourage the dwindling economic growth, as the authorities have utilized just 27% of the total allocation of PSDP in first seven months of current fiscal year. PIAF chairman Mian Nauman Kabir, in a joint statement along with senior vice chairman Nasir Hameed and vice chairman Javed Iqbal, asked for maximum efforts to fully utilize the allocations made for the Public Sector Development Programme, saying that unless all the PSDPs were executed timely, the wheels of the economy could not be turned. Mian Nauman Kabir said the actual PSDP expenditure in first seven months has always remained between 25- 30% of the budget allocation for a long time and full year utilisation ended up between 80-95% at the end of the fiscal year. Based on that ratio, we expect 100% utilization this fiscal year of Rs701 billion allocation as 7- month actual expenditure stood at 27%. According...

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