Directive issued: PM directs timely release of PSDP funds

ISLAMABAD: Prime Minister Nawaz Sharif has directed the Planning Development & Reform (PD&R) Division and Finance Division to chalk out a course for release of funds under the Public Sector Development Programme (PSDP) during the remaining period of the current financial year of 2015-16 and ensure its compliance thereafter. According to an official handout, the PM recalled that in a meeting about PSDP, the Finance Division had agreed, in principle, to enhance the quarterly limits in line with the proposal of the planning division. Late release of funds hampers the development projects. However, it would be important that while speeding up PSDP funds release, the PD&R shall continuously monitor the utilisation of the grants, the handout said. The demand and allocation for funds should, therefore, be based on the priority assigned on sectoral basis without compromising the key principle of regional equity that was agreed at the time of formulation of PSDP.

Published in The Express Tribune, November 26^th,  2015.