KP govt delays use of development funds for current fiscal year

Provincial government directs the initiation of work on the development program for next fiscal year

PESHAWAR: The Khyber Pakhtunkhwa government has opted not to utilize development funds for the current fiscal year, a decision that has raised concerns from the Planning and Development Department. 

Sources within the Khyber Pakhtunkhwa Finance Department revealed that with only two and a half months remaining in the fiscal year, allocating development funds solely for May and June could pose technical challenges. 

Consequently, the provincial government has directed the initiation of work on the development program for the upcoming fiscal year.

Under this directive, the development budget will be allocated for the next fiscal year beginning in July 2024, with a comprehensive program set to be prepared accordingly. It has been communicated to the Planning and Development Department that funds will be disbursed to employees involved in ongoing development projects as salaries and project expenses will be deferred to the new fiscal year.

Sources within the Planning and Development Department have confirmed the decision and emphasized the potential negative impact of halting progress on projects for four months. They have urged the provincial government to allocate at least a portion of the development budget to ensure continuity in project implementation.

Additionally, the provincial government has been urged to release funds for projects funded by international sources, as delays may pose challenges in convincing international institutions about the reasons for the postponement. The matter has been brought to the attention of the provincial government, along with a request for reconsideration to mitigate potential gaps in project progress.

Aziz Buneri
Aziz Buneri
Aziz Buneri covers financial, social, political and regional issues for Pakistan Today and Profit. He can be reached at [email protected]

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