Only 56% PSDP funds utilised: Ahsan Iqbal

Minister for Planning Development and Special Initiatives, Professor Ahsan Iqbal on Thursday reviewed the second quarter of the Public Sector Development Program (PSDP) 2022-23, and noticed a slow utilisation of funds that is 56% of the authorised funds.

“Those projects which are in advanced stages and have low utilisation should be capped and priority should be given to important projects near to completion,” said the minister, urging the ministries to ensure the utilisation of the funds.

Iqbal further added that, keeping in view the constrained budget and release strategy, priority should be assigned to those projects that are strategic and near completion.

“The development budget has decreased from Rs1000 billion to Rs727 billion during the last four years. For the first time in history, the previous government did not release the final quarterly instalment for the development budget,” said the minister.

Meanwhile, according to latest data released by the Planning Ministry, the government authorised the utilisation of Rs224.5 billion in five months (July-November) from a total allocation of Rs727 billion under PSDP 2022-23. The ministries and divisions however, spent only Rs130 billion of the authorised amount during the period under review.

Published in The Express Tribune, December 30^th, 2022.

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