Development expenditure of over Rs 529 billion in 11 months under PSDP

Islamabad: According to the Federal Ministry of Planning and Development, a total of Rs 529.81 billion has been spent under the Public Sector Development Program (PSDP) in the first 11 months of the current fiscal year. These figures reflect the expenditure on development projects during July-May.

According to the details released by the ministry, the highest amount was spent on development projects of federal ministries where a total of Rs 391 billion was used. According to officials, these projects include infrastructure, social services and various national development schemes.

Under the Cabinet Division, Rs 44 billion 20 crore was spent on development projects of members of parliament, which were used to meet development needs at the local level.

Similarly, Rs 138 billion was spent on projects of various corporations, including the National Highway Authority (NHA), which are aimed at improving roads and connectivity projects across the country.

According to the Ministry of Planning, Rs 153.86 billion was spent on development projects of provinces and special areas, which shows that the federal government is also providing financial support for provincial development initiatives.

In the education sector, Rs 27.78 billion was spent on Higher Education Commission (HEC) projects, which aim to improve higher education institutions and promote research activities.

Similarly, Rs 69.88 billion was spent on water resources projects, which are considered important for improving water reserves and irrigation systems in the country.

In the defence sector, Rs 4.79 billion was spent on development projects, while Rs 804.1 million was spent on defence production projects.

According to economists, this level of development expenditure reflects the pace of infrastructure and social development projects underway in the country; however, they emphasise that timely completion of projects is as important as the release of funds.

The Ministry of Planning has expressed confidence that funds will be effectively utilised on the remaining development projects by the end of the fiscal year so that development goals can be achieved.