Finance Division denies any cut in PSDP

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The Ministry of Finance on Thursday denied a news report published in a section of the press suggesting and insinuating a “Rs100 billion cut in the Public Sector Development Programme (PSDP) for the current fiscal year” as per briefing by the finance secretary to the National Assembly’s Standing Committee on Finance and Revenue the other day.

“The Finance Division strongly denies and rebuts this news report as the Finance Secretary never stated at any point during his presentation to the National Assembly’s Standing Committee on Finance and Revenue that there could be cut in the federal development programme this year,” said an official statement issued by the Finance Division.

The statement asserted that the division has actually facilitated maximum and speedy disbursements for the year and “there is no cut planned or suggested in the development spending for the current fiscal year”.

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