Govt authorizes utilization of development funds worth Rs 241b

32

The Federal Government has authorized the utilization of development funds amounting to Rs 241.26 billion out of a total allocation of Rs 727 billion for various ongoing and new social sector uplift projects of the federal ministries and division in the first four months (July-October) of the fiscal year 2022-23 under its Public Sector Development Programme (PSDP).

Out of the total authorized/disbursed amount, the total amount spent on the development projects during the corresponding period stood at Rs 98.8 billion.

According to the disbursement mechanism of the Planning Division, the development funds allocated in the federal budget are released at the rate of 20% in the first quarter. —APP