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Friday, May 24, 2024

PTI govt spent highest PSDP in FY20-21 since last 10 years: Asad Umar

PTI government has finally realized that spending will help accelerate economic growth. It has rightly spent a large amount of budget on development. It is hoped that the course will be followed for the current fiscal year as well.

Minister for Planning, Development and Special Initiatives Asad Umar Tuesday said the total spending under Public Sector Development Programme (PSDP) in the year 2020-21 exceeded the target set for the corresponding year by Rs 9 billion to Rs 659 billion.

“Total PSDP spending in 2020-21 was Rs 659 billion vs a target of target of 650 billion or 101.4%,” he tweeted.

The minister said this was the highest development funds utilization since 2011-12.

“In a year of COVID restrictions, this exceptionally high development spending reflects resolve of Prime Minister Imran Khan to accelerate growth,” he added.

According to data released by the Planning Commission, the released funds included Rs425.7 billion for federal ministries, Rs166.68 billion for corporations, Rs37.06 billion for special areas, and Rs1.5 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

Read more: PTI Govt. to spend over Rs12,017 million in PSDP 2021-22 on agriculture

Similarly, Rs115.4 billion out of PSDP allocation of Rs118.67 billion were released for the National Highway Authority, Rs51.24 billion for the National Transmission and Dispatch Company (NTDC), and Rs71 billion out of Rs79.38 billion were released for the Water Resources Division.

Likewise, Rs28.12 billion out of allocated fund of Rs22.49 billion were disbursed to the Higher Education Commission, Rs323.7 million out of Rs323 million to the Pakistan Nuclear Regulatory Authority.

The Railways Division received development funds of Rs10.87 billion, the Interior Division Rs10.37 billion, and the National Health Services, Regulations, and Coordination Division Rs11.24 billion.

Read more: IPR deconstructs FY21; says celebration for 4pc GDP may be premature

Similarly, the Revenue Division got Rs8.96 billion, and the Cabinet Division Rs24.11 billion. The government also released Rs23.4 billion out of PSDP allocation of Rs. 24.5 billion for development projects in Azad Jammu and Kashmir (AJK) and Rs13.7 billion out of Rs15 billion for Gilgit Baltistan projects.

Courtesy: APP