Government Spent 101.4% of PSDP Budget in FY2020-21
Islamabad: According to news reports, the Minister for Planning and Development Asad Umar tweeted that the Public Sector Development Programme (PSDP) had spent 101.4% of the entire budgeted amount for the fiscal year 2020–21, exceeding the annual objective.
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Against the budgeted amount of PKR 650 billion, a total of PKR 659 billion has been spent on development projects around the nation. Using a microblogging platform, Minister Umar announced the news. He noted that the spending is at its highest level since the fiscal year 2011–12 and linked the ‘exceptionally high development spending’ to Prime Minister Imran Khan’s determination to hasten the pace of the country’s economic expansion.
According to reports, PSDP spending remained low (at roughly PKR 373.8 billion (57.5%) during the first 10 months of the FY 2020–21) and only grew during the final two months of the fiscal year.
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Prior to this, the federal government authorised PKR 553 billion for the fiscal year 2019–2020, however only PKR 540.7 billion of that amount was actually used, resulting in a budget surplus. The federal government has allotted PKR 900 billion for the PSDP for this fiscal year (FY) 2021–22, which is the highest sum to date. In the first 16 days of the fiscal year, the government has already issued PKR 133.6 billion, or 14.85% of the yearly budget.
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