Finance Division receives Rs1.418bn for various projects


ISLAMABAD: The government has so far released Rs 1418.626 million for various ongoing and new projects of Finance Division under the Public Sector Development Programme (PSDP) for the current fiscal year (2017-18).

The government in its Federal PSDP had earmarked Rs 21783.017 million for the Finance Division projects, with foreign exchange component of Rs 715.402 million, officials sources said.

According to details, the government released an amount of Rs 300.188 million for two Power Plants from Syngas (IGCC 2009) in Tharparker, with each plant having a capacity of producing 50-megawatt electricity.

The total cost of this project had been estimated at Rs 8898.7 million, out of which Rs 330.188 million was earmarked in the fiscal year 2017-18 and the government released the amount during the first quarter of the current fiscal year.

An amount of Rs 300 million have been released for the development works in Phoolnagar and adjacent areas whereas an amount of Rs 150 million have been released for construction of Dual Carriageway (3kms), Phoolnagar District Kasur.

An amount of Rs 150 million has been released for Energisation and Functionality of Construction and Extension of Audit House, Islamabad while an amount of Rs 250 million have been released for Flyover on Hala Road Bypass Pattoki Overhead Bridge connecting rural areas in city Pattoki.

The government released Rs 137.335 million for the bridge over Balloki Sulemanki Link at village Balloki to connect that entire area with motorway and district Nankana. Similarly, an amount of Rs 41.06 million have been released from the construction of Phoolnagar Stadium.

The government also released Rs 79.396 billion for another important project related to automation of Central Directorate of National Savings (CDNS), Phase-II.

The total cost of the project has been estimated at Rs 879.8 million, out of which Rs 202.106 were earmarked to be released during the current fiscal year.

It is pertinent to mention here that in total the government has so far released Rs 212.200 billion for various developmental projects of various ministries and divisions out of total allocations of Rs 1001 billion earmarked for the current fiscal year.

The Planning Commission of Pakistan follows the stipulated mechanism for release of funds: first quarter (July-September) 20 per cent, second quarter (October-December) 20 per cent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 per cent.


Please enter your comment!
Please enter your name here