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ISLAMABAD: The Planning Commission of Pakistan has so far released Rs105.7bn ($1.09bn) under its Public Sector Development Programme (PSDP) as against the total allocations of $2.40bn for the fiscal year 2012-13, according to the latest data of the commission released here yesterday.
Some Rs57.4bn has been released for 345 infrastructure development projects and Rs45.1bn for 688 social sector projects. Similarly, Rs1.2bn has been released for 71 other projects and Rs2bn for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).
According to the data, the releases have been made against Rs233bn PSDP allocations.
It is pertinent to mention here that the total size of the PSDP for the year 2012-13 is Rs360 billion. These Includes Rs100 billion foreign aid, which is managed by the Economic Affairs Division and Rs27bn special programmes, release of which are made by Cabinet Division or Finance Division.
According to break up details the total cost of 345 infrastructure projects in Pakistan has been estimated at Rs2320.3bn, out of which Rs211.1bn has been earmarked in the 2012-13 budget that includes Rs85.6bn as foreign aid.
The total cost of social sector projects is Rs549.8bn, of which Rs135.9bn has been allocated in the current PSDP with foreign aid of 8.4 percent of the total amount. The cost of other projects has been estimated at Rs41.3bn out of which Rs3bn has been earmarked in the PSDP 2012-13 while Rs10 billion has been earmarked for ERRA in the current development programme.
The Planning Commission has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism.
The commission releases 20 percent of funds in first quarter (July-September), 20 percent in second quarter (October-December), 25 percent third quarter (January-March) and 35 percent in fourth quarter (April-June).