Various schemes of the Pakistan Gems and Jewellery Development Company (PGJDC) worth Rs 1.4 billion would face time overrun of about 24 months due to delayed and inadequate release of funds, it is learnt. The Planning Commission has recently directed the Ministry of Industries and Production (MoIP) to approach the Finance Division for timely and release of sufficient funds in order to avoid further delay, informed sources told Business Recorder.
Presently, Pakistan Gems and Jewellery Development Company is undertaking development of major projects across the country under the public sector development programme (PSDP).
The projects, included the Common Facility Training and Manufacturing Centers (CFTMC) for Mining, Gemstone Processing and Jewellery Manufacturing at a cost of Rs 100.98 million, Assaying and Hallmarking Initiative in Karachi and Lahore with Rs 70 million, Gem Exchange in Peshawar, Karachi and Quetta Rs 145.58 million, Consultancy/Training of Master Trainer Rs 26.24 million, Country Branding and Marketing Strategy Preparation and Execution Rs 121.70 million and Institute Facilitation and Affiliation at a cost of Rs 29.50 million, they said.
The Projects Wing of the Planning Commission had carried out the field monitoring of these projects and submitted its report to the Secretary Ministry of Industries and Production a few days back. The MoIP was asked to take necessary steps and direct the executing agency to speed up the pace of work to avoid further time over-run, they added.
Keeping in view the importance of the project and its value addition in the country's economy, the Planning and Development Division on January 14, 2010 had allowed re-appropriation of funds amounting to Rs 171.68 million within the project namely Pakistan Gems and Jewellery Development Company from the head Common Facility Training and Manufacturing Centers (CFTMC) for Mining, Gemstone Processing and Jewellery Manufacturing to the head Assaying and Hallmarking Initiatives in Karachi and Lahore subject to provision of heads in the approved PC-I.
Moreover, the executing agency, responsible for the development projects, has been further directed to seek necessary extension in the implementation period and make all possible efforts to achieve the proposed targets and objectives, the sources said.
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