PM directs maximum utilization of funds allocated for PSDP
ISLAMABAD (92 News) – Prime Minister Muhammad Nawaz Sharif on Monday said that maximum utilization of funds allocated for Public Sector Development Programme (PSDP) should be ensured so that development projects are undertaken in all parts of the country.
The PM gave the directions while chairing a meeting to review PSDP progress at the PM House.
Federal Minister for Planning Ahsan Iqbal gave the presentation to the PM, gave an overview of the PSDP spending of the current financial year as well as proposed allocation for the next year including projects which are part of China Pakistan Economic Corridor (CPEC), LNG based power projects.
The Prime Minister was informed that 72% of the allocated amount of Rs 525 billion has been released so far for the projects in current financial year 2014-15.
The Prime Minister directed that steps should be taken to fast-track completion of important projects and ensure that the un-utilized amount is fully utilized.
The PM also approved change in the release mechanism of PSDP funds in each quarter of the year for efficient utilization of funds.