ISLAMABAD-The utilisation of foreign aid component of PSDP has increased by 68 percent and reached to over Rs 101 billion, while cut of Rs 13 billion has been imposed on rupee component of the development budget of the ongoing fiscal year.
The government has imposed a cut of Rs 13 billion on the rupee component of the Federal PSDP 2022-23 and reduced it from the earlier Rs 667 billion to Rs 654 billion, official documents revealed. Similarly, the utilization of rupee component of PSDP 2022-23 was less and only 33 percent of the rupee component has been utilized from July to March period of the ongoing fiscal year.
The utilization of foreign aid component, on the other hand, has increased by 68pc and reached over Rs 101 billion, against the original allocations of Rs 60 billion in the development budget of FY 2022-23.
An official source told The Nation that the increase in the utilization of foreign aid has both positive and negative reasons. To take it positively, the increase in the foreign aid would mean that that confidence of the donors have increased on the policies of the government, the official said. While on negative term it means that the country reliance on the donors has increased and it will further enhance the burden of the country, the official said.
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According the data, the Planning Commission has issued authorisation for the release/disbursement of Rs471.295 billion PSDP funds, including rupee component of Rs370.488 billion and foreign exchange component of Rs100.807 billion, from July to March of the fiscal year 2022-23, the data maintained. The total PSDP allocation for the FY2022-23 was Rs727 billion which included Rs667 billion of rupee component and Rs60 billion of foreign exchange component. The rupee component has been downward revised to Rs 654 billion and may be further slashed in the coming three months of the ongoing fiscal year.
Interestingly, the authorisation of FEC was almost Rs41 billion or 68 percent higher than the allocation of Rs60 billion, while the rupee component of the releases was just Rs370.487 billion. Of the total allocations of Rs 561.179 billion for the federal ministries/divisions in the PSDP 2022-23, an amount of Rs333.965 billion has been released during the first nine months; however, the utilisation was merely Rs 206.234 billion. Funds for NTDC/ PEPCO have been enhanced from the earlier allocations of Rs40 billion. The FEC for NTDC/ EPCO, which was earlier Rs 20.778 billion, has now increased to Rs 67 billion. NTDC/ PEPCO utilised Rs77.377 billion of the allocations during the first nine months of the FY 2022-23. NHA has utilised Rs 32.707 billion of the allocated Rs117.243 billion.
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The utilisation of National Health services, Regulations and Coordination Division was Rs 943.14 million against the allocated amount of Rs12.651 billion. Finance Division utilised Rs129 million of the allocated Rs1.660 billion in the PSDP. The allocations for the Climate Change Division has been downward revised from Rs9.5 billion to Rs 7.5 billion. The utilisation of the Climate Change Division was Rs987 million against the allocations of Rs 7.5 billion. The utilisation of National Food security and Research Division was Rs2,712.55 million, which was around 20 percent of the PPSDP allocations of Rs13.329 billion.
The allocation of Planning, Development and Special Initiatives Division has been slashed to Rs 11.777 billion from the earlier Rs13.776 billion allocated in the Federal PSDP.
Planning, Development and Special Initiatives division utilised Rs 2.287 billion of the allocated funds. The allocation of Maritime Affairs Division has been downward revised to Rs 2.643 billion from the earlier Rs3.465 billion. Maritime Affairs Division has utilised around six percent or Rs202.87 million of the allocated amount.
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Provinces and special areas (previously under Fd/ Ka&Gb) have utilised 24 percent or Rs33.618 billion of the allocated Rs139.635 billion.
The utilisation of Science and Technological Research Division was Rs1.34 billion which is around 20 percent of the allocated funds of Rs5.716 billion. Religious affairs and Inter-Faith Harmony division has utilised only 19 percent or Rs112.44 million of the allocated amount of Rs600 million during July to March period. The utilisation of Water Resource division is Rs49.397 billion which is around 50.54 percent of the allocated Rs97.559 billion in the PSDP 2022-23.