Despite budgetary constraints and disruptions caused by last year’s mega floods, the Ministry of Planning, Development, and Special Initiatives has approved Rs 129 billion for development projects under the Public Sector Development Programme (PSDP) for the fourth quarter of 2022-23. Priority has been given to the Water Resource Division and the Higher Education Commission (HEC).
It is worth mentioning that there was a zero release for PSDP in the fourth quarter of 2021-22, resulting in the government reducing the PSDP from Rs 700 billion to Rs 550 billion.
According to the most recent Planning Ministry statistics, Rs 129 billion has been released for PSDP development projects in the fourth quarter (2022-2023), including Rs 27 billion for Azad Jammu and Kashmir AJK, Gilgit-Baltistan GB, and Ex-FATA.
Release/disbursement: Rs399.68bn funds authorized for PSDP
The Power Division received Rs 30 billion to expedite projects such as the Diamer-Bhasha Dam, Mohmand Dam, Kachi Canal, and Nai Gaj Dam, while the Ministry of Communication received Rs 22 billion to expedite projects such as the Khuzdar-Kuchlak Road, Dualization, and Improvement of Old Bannu Road.
HEC has been given Rs 8 billion to finish the projects. Similarly, Rs 4 billion was made available for the Ministry of Housing and Works, Rs 8 billion for the Ministry of Railways, and Rs 5 billion for the Power Division.
Planning Minister Ahsan Iqbal has been continually battling economic issues and has taken various measures for the country’s development, particularly the development of Balochistan, which recent floods have severely impacted. Since the incumbent government took office in April last year, the Minister stated that the PML-N government from 2013 to 2018 boosted the economy and introduced several mega projects, including the CPEC, but the experiment of bringing the PTI rule shrunk the PSDP to Rs 500 billion in April 2021.
Despite financial constraints, the Ministry is dedicated to releasing funding for development projects, and the release of Rs 129 billion for PSDP will be an important step towards attaining the country’s development goals. To ensure the smooth implementation of social development projects, the Ministry intends to prioritise Water Resources and Higher Education.
