ISLAMABAD:- The utilization of developmental funds is very low during the current fiscal year as only 45.3pc of the allocations in Public Sector Development Program 2021-22 have been utilized during the first three quarters.
Of the total allocations of Rs 900bn in the PSDP 2021-22, for the ministries/divisions, only Rs 407.603bn has been utilized during the first three quarters (July 1, 2021 to March 31, 2022), official documents available with the scribe reveals.
There are two components of the Federal PSDP, which are Rupee and foreign exchange components.
The expenditure under Rupee component is far less than the total allocations as only Rs 325.645bn, which is just 40.70pc of the total allocation of Rs 800bn, of the rupee component of the PSDP 2021-22 has been utilized,it reveals.
On the other hand٫ the utilization of funds allocated under Foreign Exchange Component (FEC) of the PSDP is more than 81pc. Out of the total Rs 100bn FEC Rs 81.958bn has been utilized from July 1,2021 to March 31, 2022.
Even the utilization against the authorization issued by the Planning Commission is very low as it is just 63.7pc of the authorization, the documents reveal.
The Planning Commission has issued authorization of Rs 511.138 billion for the release of funds to the Finance Division, however expenditure of Rs 325.645bn incurred during first three quarters of the current fiscal.
The utilization against the sanctioned funds by the concerned ministries/division is also low as only 72.8pc of the sanctioned funds have been utilized during the first three quarters of the current fiscal, the documents reveal.