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  • Writer's pictureIridium Real Estate

Govt Approves Rs. 241 Billion for Ongoing Projects Development

The Federal Government has authorized the use of Rs. 241.26 billion out of a total allocation of Rs. 727 billion for ongoing and new social sector uplift projects of federal ministries and divisions under its Public Sector Development Programme (PSDP) in the first four months (July-October) of the fiscal year 2022-23.

According to the Planning Division's disbursement system, the federal budget's development funds are released at a rate of:

  • 20% in the first quarter (July-September)

  • 30% in each of the second and third quarters

  • 20% in the fourth and final quarter (April-June) of a fiscal year

The total amount spent on development projects during the corresponding period, out of the total disbursed amount, was Rs. 98.8 billion.

In the latest data shared by the Ministry of Planning, Development, and Reform, the government disbursed Rs. 100 billion for ERRA (Earthquake Reconstruction and Rehabilitation Authority). In further detail, Rs. 57.1 billion rupees out of 160.2 billion have been disbursed to corporations, and 184 billion rupees out of Rs. 563.3 billion have been disbursed to federal ministries.

The government authorized Rs 1.9 billion for Climate Change Division, but only Rs. 38 million has been spent. The government has approved Rs. 17.78 billion for the Higher Education Commission (HEC), Rs 25.2 billion for provinces and special areas, Rs. 435 million for Commerce, Rs. 36 million for Communication (other than NHA), and Rs. 445 million for Defence.

Likewise, the Government of Azad Jammu and Kashmir (AJK) and the Federal Government Employees Housing Authority (FGEHA) will introduce a housing program in Rawalakot, AJK, to provide the locals with up-to-date housing facilities and services.

According to an official in the Ministry of Housing and Works, an agreement between FGEHA and the AJK government had already been signed to address the housing shortage for the valley's residents. Under the terms of the agreement, the FGEHA would offer managerial and technical support for planning, designing, estimating the cost of engineering work, supervising construction projects, and more.

In response to a question, he stated that the FGEHA's development projects are being completed at a significantly faster rate to give workers access to modern living as soon as possible.

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