Punjab Release PKR 221 Billion for Development Projects
According to news sources, the Punjab Finance Department has released PKR 221 billion for various development projects scheduled for the province’s first fiscal quarter (FY-2021-22). The amount of funds released is 86 billion PKR greater than the amount released in the first quarter of the previous fiscal year of 2020-21.
According to Punjab Finance Secretary Iftikhar Ali Sahoo, the funds were granted after a comprehensive review of the projects with the Punjab Development Board (PDB).
As of the 1st of July, the government has disbursed a total of 144 billion Pakistani rupees (PKR) for all current projects.
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In addition, the Punjab government has allocated 560 billion Pakistan Rupees (PKR) for public sector development projects (PSDP) at the beginning of the fiscal year 2021-22, which is 66% more than the amount allocated in the previous fiscal year.
The ongoing development projects approved for the public sector account for 63% of the total Annual Development Programme (ADP) expenditures for FY 2021-22, according to reports.
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