Islamabad: The Ministry of Planning and Development has said that it has approved the release of development funds worth Rs 330 billion 43 crore during the first four months of the current fiscal year.
According to the issued statement, a total of Rs 53 billion 93 crore was spent on development projects of various ministries and divisions. Rs 20 billion 17 crore was allocated for National Highway Authority (NHA) projects, while Rs 1 billion 86 crore was spent on NTDC and other power projects under the Power Division.
The Ministry of Planning said that a budget of Rs 1,000 billion has been allocated for the current fiscal year under the Federal Development Program (PSDP), under which various projects are underway in the energy, communication and social sectors.
The ministry spokesperson said that the release of development funds will create stability and employment opportunities in the country’s economy.
According to economists, continuity in development spending will boost the country’s economic activities and accelerate infrastructure projects.
