LAHORE: The Punjab Planning and Development Board approved funds of Rs48.49 billion for development projects in the province in the first quarter (July-September) of the current fiscal year, says a report.
Of the Rs48.49 billion, around Rs16.85 billion was spent on uplift schemes in the quarter, representing 34.79% spending of funds.
According to the quarterly report issued by the planning and development department here on Wednesday, total allocation for development projects in the provincial budget for 2012-13 was Rs185.32 billion.
The Punjab government has divided its core development budget into five segments – social sector, infrastructure development, production, services and miscellaneous.
According to sources, about Rs20 billion out of allocated Rs87.19 billion was approved for social sector projects, of which Rs4.04 billion was spent, showing 20% spending of funds.
The P&D Board approved Rs26.68 billion, out of total allocation of Rs73.98 billion, for infrastructure development. Spending was Rs11.76 billion (44%) on such projects.
For the production sector, the board approved Rs735 million out of allocated Rs8.61 billion and about Rs668 million was spent on development schemes.
An amount of Rs861 million, out of allocated Rs11.13 billion, was approved for the services sector in the first quarter. Spending stood at Rs350.07 million. For the miscellaneous sector, an amount of Rs215.9 million was approved out of the allocated Rs4.39 billion and Rs26.6 million was spent on projects in this category.
Published in The Express Tribune, November 8th, 2012.
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