The federal government has fulfilled yet another condition of the International Monetary Fund (IMF) by withholding the remaining Rs. 29 billion funds earmarked for parliamentarian schemes, more commonly termed as Sustainable Development Goals (SDGs).
Citing financial difficulties, sources informed ProPakistani that the government has decided not to release the remaining funds allocated for parliamentarians in the current fiscal year.
Planning Commission sources said the withheld funds were originally part of a substantial allocation of Rs. 90 billion under the Public Sector Development Program for FY2023-24. So far, Rs. 61 billion have been disbursed with the remaining Rs. 29 billion now docked off.
Underlining the financial constraints faced by the country, sources said the decision to withhold the funds is to curtail unnecessary development expenditures and reduce the fiscal deficit.
Notably, Rs. 61 billion has already been released in the current fiscal year for the SDGs program, contributing to a total of 41 billion rupees for the ongoing financial year. In contrast, FY23 saw the allocation of Rs. 20 billion for SDGs.
Planning Ministry sources added the reduction in the amount allocated for SDGs reflects a broader financial strategy aimed at balancing priorities while meeting the requirements set forth by the IMF.