Authorization of PSDP funds during 2019-20 : AsiaNet-Pakistan

Authorization of PSDP funds during 2019-20

August 17, 2019 | Official News, Press Information Department | Share:

Islamabad, August 17, 2019 (PPI-OT): This is with reference to news being published/circulated in certain sections of media regarding authorization of PSDP funds during 2019-20. It is stated that Ministry of Planning, Development and Reform has processed all demands received for authorization till 16.08.2019 against PSDP allocation. As per Release Strategy issued by the Finance Division on 15.07.2019, 20% of the PSDP allocation has to be authorized for PSDP funded projects. Accordingly, Ministry of Planning, Development and Reform has to authorize Rs. 89 billion during the first quarter which is 20% of Pak rupee earmarked in current PSDP.

Out of this demand of Rs. 56 billion was received from all federal entities. This Ministry has authorized Rs. 22.6 billion to different ministries/division which meet SOP/codal formalities for release authorization. The remaining was not authorized mainly due to non-fulfilment of codal formalities. The amount would be released as soon as Ministries fulfill the formalities. It would not be out of place to highlight that during last financial year Ministry of Planning, Development and Reform authorized releases of 97% of PSDP 2018-19.

For more information, contact:
Principal Information Officer,
Press Information Department (PID)
Tel: +92-51-9252323, +92-51-9252324
Fax: +92-51-9252325, +92-51-9252326
Email: piopid@gmail.com
Website: www.pid.gov.pk

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Category: Official News, Press Information Department