Finance Division yet to receive funds, Rs21,886 mln released in 2017-18

ISLAMABAD, Aug 16 (APP):Although the government released over Rs22.784 billion project funds under its Public Sector Development Programme (PSDP) 2018-19 to various divisions, no funds were released for Finance Division so far.
In total, the government had allocated funds of Rs 1,030 billion under its PSDP 2018-19 including Rs 18.151 billion for Finance Division
The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.
The commission 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).
During the fiscal year 2017-18, the federal government had released Rs 21886.308 million for various ongoing and new projects of the Finance Division.
The government had earmarked Rs 27,064.708 million in the PSDP for the Finance Division projects, with foreign exchange component of Rs 715.402 million.
An amount of Rs 9,555 million was released for Greater Karachi Water Supply Scheme, which is being developed by the Sindh and federal governments on cost sharing basis.
Similarly, Rs 1,500 million has been released for Greater Karachi Sewerage Plant (S-III) Karachi, which is also being developed on cost sharing basis. The federal government had earmarked Rs 1,500 million for the project in the PSDP 2017-18.
The federal government released Rs 500 million for Gwadar Development Authority and Rs 300.188 million for two power plants from Syngas (IGCC 2009) in Tharparker, with each plant having capacity of producing 50 megawatt electricity.
The total cost of the project was estimated at Rs 8,898.7 million, out of which Rs 300.188 was earmarked in the fiscal year 2017-18, which has already been released.
An amount of Rs 300 million was released for development works in Phoolnagar and adjacent areas while Rs 250 million had been provided for a flyover on Hala Road bypass and Patoki overhead bridge connecting rural areas with the Pattoki city.
The government had released Rs 137.335 million for a bridge over Balloki-Sulemanki Link at village Balloki to connect the surrounding areas with motorway in Nankana district while Rs 150 million had been released for the construction of dual carriageway in Phoolnagar, Kasur district.
Likewise, Rs 150 million was released for Energization and Functionality of Construction and Extension of Audit House, Islamabad.
The government also released Rs 79.396 million for another important project related to automation of Central Directorate of National Savings (CDNS), Phase-II. The total cost of the project had been estimated at Rs 879.8 million, out of which Rs 202.106 was earmarked during the current fiscal year.