Only 47 per cent of total Public Sector Development Program (PSDP) funds allocated for the sector-wise development were utilised in the first nine months of the current fiscal year.
According to the documents that reveal scant utilisation of the budget assigned for developmental projects, of the total Rs900 billion budget allocated to the sectors for development, only Rs423 billion could be spent – a meagre chunk that constitutes 47% of the PSDP funds.
This is in sheer contrast to the targets planned by the Planning Commission under which 80 per cent of the public sector development program was to be utilised within the first three quarters.
The document further reveals the poor utilisation of funds allocated for the construction and rehabilitation of roads.
Rs57.66 billion was spent on road construction and repair projects while more than Rs126.20 billion has been allocated for the construction and development of national highways.
Similarly, Rs42.45 billion was allocated in the development budget for higher education projects, out of which only Rs13.30 billion could be utilised in nine months.
Read Refineries seek Rs23b in tax refunds
Meanwhile, the federal government had specified Rs69,485.05 million under PSDP-2021-22 for various power projects. However, only Rs37.33 billion could be utilised for the funds' projects.
A sum of Rs22,000 million was earmarked for the installation of 2,600MW Coal Fire Power Plant, Rs5,500 million for evacuation of Power from Suki Kinari Hydropower Project, Rs8,500 million for evacuation of power from 2160MW Dasu Hydropower Project, Rs5,933 million for 500KV Islamabad West (NTDC), Rs2,282 million for evacuation of power from Tarbela 5th Extension and Rs1,700 million evacuation of power from 1224 MW wind Power Plants (Jhimpir).
Besides, Rs103.47 billion was allocated for reservoir projects out of which Rs59.97 billion could be spent. Similarly, more than Rs53 billion was allocated in PSDP for projects initiated by the government under public-private partnership, but not a single penny of it could be utilised.
With whopping funds lying unspent and no ministry ensuring effective utilisation, financial experts anticipate the funds could be at the risk of being lapsed.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ