HEC given top priority as govt issues Rs129 billion for projects under PSDP

• Funds have been released for fourth quarter of current fiscal year.
• No funds were released during last quarter of previous fiscal year.
• Rs27 billion allocated for projects in AJK, GB and ex-Fata areas.

The Water Resource Division and the Higher Education Commission (HEC) have been given top priority as the government released funds amounting to Rs129 billion for projects under the Public Sector Development Programme (PSDP).

The Ministry of Planning, Development and Special Initiatives released the funds for the fourth quarter of the current fiscal year.

No funds were issued in the last quarter of the previous fiscal year (2021-22), which resulted in the government shrinking the PSDP from Rs700 billion to Rs550 billion.

According to the latest data provided by the Planning Ministry, Rs27 billion has been allocated for Azad Jammu and Kashmir (AJK), Gilgit Baltistan (GB) and ex-Fata districts for development projects under the PSDP.

An amount of Rs30 billion was released to the Power Division to speed up the projects like Diamer-Bhasha Dam, Mohmand Dam, Kachi Canal, Nai Gaj Dam, while Rs22 billion was released for the Ministry of Communication to expedite the projects like Khuzdar-Kuchlak Road, Dualisation & Improvement of Old Bannu Road.

In addition to this, Rs8 billion was released for HEC to complete the projects. Similarly, an amount of Rs4 billion was released for the Ministry of Housing and Works, Rs8 billion for the Ministry of Railway, and Rs5 billion for the Power Division.

Minister for Planning, Development and Special Initiatives Ahsan Iqbal said the government was committed to allocating funds for development despite constraints and termed the latest release a "significant step" towards achieving the country's development goals.