| Islamabad: Ministry of Planning Secretary Syed Zafar Ali on Wednesday (February 8) that the government has approved PKR 371 billion for development projects under the Public Sector Development Programme (PSDP) 2022-23, news sources reported.
Read: Steel producers for release of PSDP funds to revive industry
Mr Zafar said that the total budgetary allocation for the PSDP is PKR 727 billion, out of which over 50% of funds worth PKR 371 billion have been approved. In a meeting with journalists, Zafar stated that PKR 311 billion of the approved projects were for local components and PKR 60 billion was for foreign aid. He added that 22% of the budget allocation has been utilized, with PKR 207 billion spent, including PKR 147 billion for local components and PKR 60 billion for foreign aid.
The secretary said that of the total USD 10 billion in aid pledged by countries at the Geneva conference, 13 early harvest development projects worth USD 3 billion for flood-affected areas have been approved and funds will be transferred soon. He emphasized that if a project is related to a province, it will be required to share 50% of its resources, and the same would apply to federal government-related projects.
Read: Committee approves PSDP proposals of Housing Ministry
It is important to note that the recent floods in the country have devastated infrastructure in all four provinces, with Sindh suffering a loss of USD 8 billion, Balochistan losing USD 2.5 billion, and other provinces losing USD 750 million. The government has asked the international community to pledge reconstruction funds under their climate resilience and justice initiatives to help with rehabilitation. |
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