PSDP 2022-23: Govt. releases Rs609.015 bln funds in 10 months.

ISLAMABAD -- The Federal Government has authorized the utilization of development funds amounting to Rs609.015 billion, out of a total allocation of Rs714.177 billion, for various ongoing and new social sector uplift projects of the federal ministries and divisions during the first 10 months (July-April) of the fiscal year 2022-23 under its Public Sector Development Programme (PSDP).

Out of the total authorized/disbursed amount, the total amount spent so far on the development projects during the corresponding period stood at Rs373.912 billion.

According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20% in the first quarter (July-September), followed by 30% each in the second and third quarters, and the remaining 20% in the last quarter (April-June) of a fiscal year.

The government also authorized/disbursed Rs400 million for the Earthquake Reconstruction and Rehabilitation Authority (ERRA) out of which Rs330.95 million have been spent so far, according to the latest data released by the Ministry of Planning, Development, and Reform.

The detail shows that Rs169.259 billion out of a total allocated amount of Rs 152.236 billion have been disbursed to corporations while Rs 439.356 billion have been disbursed to the federal ministries out of a total allocation of Rs 561.440 billion.

For the Aviation Division, funds amounting to Rs2.494 billion have been disbursed against the total allocation of Rs3.324 billion, whereas the Board of Investment received Rs282.63 million, out of an allocation of Rs807.50 million.

Similarly, the government authorized Rs90.030 billion to the Cabinet Division, Rs4.075 billion to the Ministry of Climate Change, Rs1.174 billion to the Commerce Division, Rs108 million to the Ministry of Communications (other than NHA), Rs1.913 billion to the Defence Division, Rs1.870 billion...