Govt releases over Rs.234 mln for Commerce Division projects

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ISLAMABAD, May 26 (APP): The government has so far released over Rs 234.850 million for different social sector development projects of Commerce Division under Public Sector Development Programme (PSDP) 2015-16.

In total, the government has earmarked Rs 875.622 million for these projects in the PSDP of current fiscal year, according to official data.

According to details, Rs 210.514 have been released for purchase of equipment, furnishing, curriculum development and training of Pakistan School of Fashion Design, Lahore.

In total, Rs 755 million have been earmarked for the project, out of which 351.285 million would be spent in the current fiscal year.

The government also released Rs 24.336 million for restructuring of Pakistan Institute of Trade and Development (PITAD), Islamabad, for which Rs.23.337 have been earmarked in the current year out of total Rs508 million to be spent on the project.

The government has also earmarked Rs 500 million for Expo Center Peshawar.

It is pertinent to mention here that the government has so far released over Rs 481.895 billion for different social sector development PSDP 2015-16 against the total allocations of Rs 700 billion earmarked for the current fiscal year.

The Ministry of Planning, Development and Reform has been following a proper mechanism to release funds as per quarterly ceilings.

It releases 20 percent of funds in first quarter (July September), 20 percent in second quarter (October December) and 30 percent each during third quarter (January March) and fourth quarter (April June).