ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives (PDSI), Asad Umar on Wednesday said that during the first 8 months of fiscal year 2019-20, the Public Sector Development Program (PSDP) witnessed a record utilization of 39 percent.
This is the highest recorded utilization of development budget for the past 06 years, he said according to press statement issued by the ministry here.
Earlier, the maximum utilization of PSDP was witnessed in FY 2014-15, when it touched 32%.
Meanwhile, in a tweet, the minister said that during the first five months of the current fiscal year around Rs87 billion development funds were utilized whereas the last three months witnessed utilization of Rs187, showing growing pace of PSDP fund execution.
The minister said that Peshawar Karachi Motorway Project (Sukkur-Multan section) had been completed up to 99%, and this year Rs17.7 Billion were spent on the project.
Likewise, he added, Faisalabad-Khanewal road project witnessed 98% physical progress, and Rs5 Billion were allocated for this project.
Highlighting the progress made to ensure water security for Pakistan, Asad Umar remarked that during the first 08 months of the current financial year, Rs2.5 billion were spent under the National Program for Improvement of Watercourses in Pakistan-Phase-II, which translates into a 50% utilization rate.
Work on Mohmand Dam Hyrdopower project had also been initiated, and Rs2.8 billion were spent on it, he said adding that for the construction of small dams in Khuzdar Rs125 million were utilized.
Asad Umar said that the PTI government was committed to the speedy and transparent completion of all the ongoing projects, and had been working to ensure diligent monitoring and evaluation, and implementation of all the projects.
During the current financial year, more than 200 projects were expected to be completed, he added.