PM directs timely release of development funds under PSDP

ISLAMABAD, Nov 25 (APP): Prime Minister Muhammad Nawaz Sharif Wednesday directed the Planning Development & Reform Division (PD&RD) and Finance Division to chalk out a mutually agreeable course for the release of development funds under the Public Sector Development Programme (PSDP) during the remaining period of the current
financial year.
He also directed to ensure its compliance afterwards.The Prime Minister recalled that in a meeting over Public Sector Development Programme, the Finance Division had agreed, in
principle, to enhance the quarterly limits in line with the proposal of the Planning Development & Reform Division.
It was agreed with a view to ensure the efficiency in public
spending and safeguard against late releases in the third and fourth
quarters, which not only effected the pace of implementation of the
projects, but also resulted in backlogging of expenditure in the
financial year, said a press release.
Since implementation of the PSDP in an efficient
and transparent manner is a key target of the government,
efforts have to be made to ensure maximum releases in line
with the requirements of the PD&RD.
However, it would be important that while doing so the PD&RD
shall continuously monitor the utilization of the available
resources and the pace of the implementation without the money
getting stuck in the projects where implementation is slow for any
reason.
The demand and allocation for funds should, therefore, be
based on the priority assigned on sectoral basis without
compromising the key principle of regional equity that was agreed at
the time of formulation of PSDP, it added.