MoST provided Rs. 958.225 mln to execute 27 projects last year

ISLAMABAD, Sep 6 (APP):Ministry of Science and Technology (MoST) was provided an amount of Rs. 958.225 million to execute
27 projects during last fiscal year against total allocation of Rs. 2538.727 million. The allocation was made to execute 33 projects during the period.
The break-up of allocation for the year showed that Rs. 2538.727 million were earmarked for 33 projects, Rs. 1631.136 million allocation for 25 approved projects, Rs. 255.591 million allocation for four under revision projects and Rs. 652 million allocation was made for four un-approved projects.
As per details, Ministry of Planning and Development and Ministry of Finance released a total amount of Rs. 958.225 million against 27 projects whereas MoST indicated savings against remaining funds. As far as under revision projects are concerned, two out of four have been accorded revised approval by CDWP in March 2018 for which MoST demanded Rs. 130 million in fourth quarter of year 2017-18. Due to delay in revision, the release and utilization against these projects remained low.
Whereas, out of four un-approved projects, three projects got approved by CDWP in May 2018 and due to delay in approval, funds to these projects could not be released.
No budget released and utilized against any project without its prior approval of relevant authority and no funds have lapsed in fiscal year 2017-18. However, MoST timely indicated saving of Rs. 1568.366 million by April 13, 2018.
It is pertinent to be noted that this saving was indicated out of non-released funds.