K-P seeks fund release for merged districts

Federal finance ministry asked to disburse Rs8.5b under PSDP

Listen to article

PESHAWAR:

Khyber-Pakhtunkhwa Chief Minister's Finance Adviser Muzzammil Aslam has written a letter to the federal finance minister, requesting the immediate release of Rs8.46 billion for the second quarter of the PSDP funds under the Accelerated Implementation Program (AIP) for merged districts.

The letter states that the federal government has allocated Rs. 42.315 billion for the merged districts under the AIP for the current year. However, only 15% of the funds have been released so far, despite the second quarter nearing its end.

Aslam emphasised that according to the policy, 20% of the funds should be released for the second quarter. He urged the federal finance minister to release the funds as soon as possible to avoid disrupting development activities in the merged districts.

The policy guidelines state that the Planning and Development and Special Initiatives Division has the authority to release funds for the development budget, with specific quarterly release percentages. These are 15% for the first quarter, 20% for the second quarter, 25% for the third quarter, and 40% for the fourth quarter, the letter stated.