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Govt is Allocating Rs. 2.1 Trillion for Development Programs in Budget 2021-22: Asad Umar
The Federal Minister for Planning and Development Asad Umar, announced that the National Economic Council (NEC) has approved the allocation of Rs. 2.10 trillion for the country’s development program.
This included Rs. 87 billion for the China-Pakistan Economic Corridor (CPEC) for 2021-22 against Rs. 1,527 billion for 2020-21, with an increase of 36.4 percent.
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Flanked by the Chairman of the CPEC Authority, Asim Saleem Bajwa, during his briefing regarding the allocations for the Public Sector Development Program (PSDP), Minister Umar said that the allocation for the federal development budget is Rs. 900 billion for 2021-22 against Rs. 650 billion for 2020-21, while the provincial development budget is Rs. 1,202 billion for 2021-22 against Rs. 867 billion for 2020-21.
FBR addresses Rs250bn worth claim funds this year dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
Top Story June 5, 2021
ISLAMABAD: The utilization of development funds at provincial levels remained dismally poor and the provinces have been left with no other option but to slash down development outlays from Rs950 billion to Rs867 billion for the outgoing fiscal year 2020-21.
Official documents showed that so far, the utilization of funds under the Public Sector Development Program (PSDP) at federal level also remained pathetic as it stood at just Rs421 billion as of June 1, 2021 against the total allocation of Rs650 billion for the outgoing fiscal year ending on June 30, 2021.
The Ministry of Planning has so far released funds to the tune of Rs563 billion out of the total allocated amount of Rs650 billion but pace of utilization failed to pick up owing to a variety of reasons.