September 29, 2020

Government Releases Funds For Industries Division Projects And Security Enhancement Projects

The government has recently released Rs 76.149 million for the ongoing projects of Industries and Production Division under the Public Sector Development Program (PSDP) along with Rs27 billion for security enhancement projects.

The planning commission said on Monday 26th of August that the finance ministry approved the transfer of Rs26.78billion for security enhancement, out of its total allocation of Rs32.5 billion for the FY 2019-20.

On the other hand, the government has released Rs76.149 million for the Industries and Production Division projects out of its total allocation of Rs 2343.293 million for FY 2019-20.

The details of different allocations of budget are as follows:

  • The government released Rs50 million for National Business Development Program out of its total allocation of Rs250 million
  • Rs6 million were released for footwear cluster development out of its total allocation of Rs30 million
  • Rs6 million were released for handicraft development and promotion
  • 97 were released for the SME Business Facilitation Centers
  • Rs3 million were released for Business skill development center for women in Dera Ismail Khan
  • 79 million were released for Fruit Dehydration Unit in Swat
  • The National Highway Authority has been allocated Rs2.7 billion
  • 447 were released for the Higher education Commission
  • 27 billion were released for Pakistan Atomic Energy Commission
  • 3 billion were released for Ministry of Railways

Under the development program, the government has released Rs10.2billionfor the federal ministers and Rs4.6 billion for special areas so far. Experts suggest that the allocation of the budget has been slow in this fiscal year. Provided the economic condition of the country, the release of funds from the government is expected to be slower in the future as well.

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