CDNS provided over Rs79mn for automation project

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ISLAMABAD: The government has so far released an amount of Rs79.396 million for the automation project of Central Directorate of National Savings (CDNS) under the Public-Sector Development Programme (PSDP) 2017-18.

During the ongoing year, an amount of Rs202.106 would be spent on the project as per the allocations of PSDP (2017-18), official sources said.

The total cost of the CDNS automation project has been estimated at Rs879.8 billion which aims at bringing more branches of the National Savings under the automation system.

Meanwhile the Ministry of Planning, Development and Reform released Rs6911.452 million for various ongoing and new projects of Finance Division.

Out of the total releases, an amount of Rs3822 million have been released for Greater Karachi Water Supply Scheme (K-IV) Karachi.

This project is being executed on 50:50 cost sharing basis between the federal and provincial governments and the government has earmarked an amount of Rs9555 million for this project under PSDP 2017-18.

Similarly, an amount of Rs600 million have been released for Greater Karachi Sewerage Plant (S-III) Karachi, for which an amount of Rs1500 have been earmarked in the current PSDP.

This project is also being executed on 50:50 cost sharing basis by the federal and provincial governments, the official sources added.

An amount of Rs300.188 million has been released for Power Plant from Syngas (IGCC 20090) Tharparkar. Total cost of this project estimated Rs8898.7 million, out of which Rs300.188 million were earmarked in the federal PSDP 2017-18, official sources added.

The Ministry of Planning, Development and Reform has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.

The ministry releases 20% of funds in first quarter (July- September), 20% in second quarter (October December), 25% third quarter (January March) and 35% in fourth quarter (April June).