In its third year of the five-year term, the Pakistan Muslim League-Nawaz (PML-N) government will utilise 90 per cent of the Public Sector Development Programme (PSDP) in the current fiscal year. The ruling party has almost achieved its set target of completing 285 development schemes this year.
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This was disclosed by officials of a special team while briefing Prime Minister Nawaz Sharif on Saturday. The special task force was set up to review the PSDP allocations and had been working for the past two weeks at the PM House.
While Rs700 billion in federal PSDP was allocated for the current year, the amount was reduced to Rs580 billion due to resource mobilisation. Of the Rs580 billion available, Rs434 billion is in local funds while Rs146 billion was arranged through foreign funding.
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Till the third quarter of current fiscal between January to March, the federal government utilised Rs344 billion with Rs272 billion coming from local funds and Rs72 billion from foreign funds. Till the end, the government would be able to utilise around Rs500 billion, coming to 90 per cent of the total amount.
Published in The Express Tribune, May 1st, 2016.