ProPropertyNewsFederal Government Authorizes Rs. 241 Billion for Uplift Projects

Federal Government Authorizes Rs. 241 Billion for Uplift Projects

ISLAMABAD: Under its Public Sector Development Program, the Federal Government has authorized the use of development funds totaling Rs. 241.26 billion out of a total allocation of Rs. 727 billion for various ongoing uplift projects.

As per the details, the entire amount spent on development projects during the same period, out of the total authorized/disbursed amount was Rs.98.8 billion.

According to the Planning Division’s distribution system, the federal budget’s development funds are issued at a rate of 20% in the first quarter (July-September), 30% in each of the second and third quarters, and 20% in the fourth and final quarter (April-June) of a fiscal year.

The most recent information provided by the Ministry of Planning, Development, and Reform indicates that the government further authorized Rs. 100 billion for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

ALSO READ  Federal Government to Perform Ground-Breaking of Sky Garden Housing Scheme on Tuesday

Furthermore, various companies have received Rs. 57.133 billion out of a total allocation of Rs. 160.2 billion, while the federal ministries have received Rs. 184 billion out of a total allocation of Rs. 563.3 billion.

Besides, out of a total budget of Rs. 87 billion, the federal government has also disbursed Rs. 87 billion, however, so far, only Rs. 0.78 billion has been spent on the development projects of the cabinet division.

Additionally, the data also reveals that Rs. 161 million has been paid to the Board of Investment, while Rs. 494 million has been paid to the Aviation Division.

The government approved spending Rs. 1.9 billion for the Climate Change Division, but only Rs. 38 million of that amount was actually used during the time period under review.

The government also gave the Division of Federal Education and Professional Training Rs. 1.4 billion, the Division of Establishment Rs. 180 million, and the Division of Housing and Works Rs. 4.3 billion.

Leave a Reply

Your email address will not be published.