AIRLINK 172.89 Decreased By ▼ -2.84 (-1.62%)
BOP 13.25 Increased By ▲ 0.13 (0.99%)
CNERGY 7.39 Decreased By ▼ -0.15 (-1.99%)
FCCL 43.48 Decreased By ▼ -0.43 (-0.98%)
FFL 14.88 Decreased By ▼ -0.13 (-0.87%)
FLYNG 26.46 Decreased By ▼ -0.44 (-1.64%)
HUBC 129.65 Decreased By ▼ -0.58 (-0.45%)
HUMNL 13.22 Decreased By ▼ -0.12 (-0.9%)
KEL 4.44 Decreased By ▼ -0.06 (-1.33%)
KOSM 6.04 Decreased By ▼ -0.02 (-0.33%)
MLCF 55.30 Decreased By ▼ -0.73 (-1.3%)
OGDC 211.25 Decreased By ▼ -3.52 (-1.64%)
PACE 5.91 Decreased By ▼ -0.07 (-1.17%)
PAEL 41.01 Increased By ▲ 0.11 (0.27%)
PIAHCLA 16.20 Decreased By ▼ -0.12 (-0.74%)
PIBTL 9.57 Decreased By ▼ -0.18 (-1.85%)
POWER 11.52 Decreased By ▼ -0.24 (-2.04%)
PPL 177.80 Decreased By ▼ -3.68 (-2.03%)
PRL 33.38 Decreased By ▼ -0.84 (-2.45%)
PTC 22.76 Decreased By ▼ -0.30 (-1.3%)
SEARL 94.20 Decreased By ▼ -1.52 (-1.59%)
SILK 1.18 Increased By ▲ 0.04 (3.51%)
SSGC 34.86 Decreased By ▼ -0.59 (-1.66%)
SYM 15.85 Increased By ▲ 0.10 (0.63%)
TELE 7.79 Decreased By ▼ -0.08 (-1.02%)
TPLP 10.85 Decreased By ▼ -0.13 (-1.18%)
TRG 60.68 Increased By ▲ 0.18 (0.3%)
WAVESAPP 10.72 Decreased By ▼ -0.09 (-0.83%)
WTL 1.32 Decreased By ▼ -0.03 (-2.22%)
YOUW 3.76 Decreased By ▼ -0.01 (-0.27%)
BR100 12,027 Decreased By -27.1 (-0.22%)
BR30 36,259 Decreased By -208.1 (-0.57%)
KSE100 113,679 Decreased By -677.3 (-0.59%)
KSE30 35,038 Decreased By -309.1 (-0.87%)

KARACHI: Sindh government has instructed its departments that the amount for the projects to be financed through foreign assistance in next financial year's Annual Development Program (ADP) should separately be mentioned in rupees, indicating the expenditure on import of goods and services.

In its guidelines for the next ADP, provincial government stated that this is necessary because under certain aid agreements, the Government of Pakistan/Sindh is required to first incur the expenditure in local currency and thereafter the amount is reimbursed by the development partner/foreign donors.

The counterpart funds required for Foreign Projects Assistance must be ensured to be kept in each year's ADP as per commitments made with the international development partners, the guidelines suggested.

These guidelines indicated that departments and agencies concerned will formulate their programs after full deliberations with all the stakeholders concerned and executing agencies so that request for re-appropriation immediately after the commencement of the fiscal year can be avoided.

As a policy, the Planning and Development Department/Board would not entertain any request for re-appropriation during the period from July to December 2021.

The deputy commissioners will have to identify new schemes for the respective districts depending on the priority and need of those proposed schemes and incorporate in its development portfolio.

While forwarding the demand for ADP 2021-22, the department should also observe the 18th Amendment, i.e., division of subjects between the provinces and the federation.

A brief project profile and core objectives of the mega projects with total cost exceeding Rs500 million may be given separately and all development projects should be based on feasibility studies. In case of projects of infrastructure and production sectors costing Rs500 million and above, the feasibility study would be mandatory.

The project-oriented TORs should be prepared and experienced and professional consultants should be engaged for preparing feasibility studies.

In case of projects costing less than Rs500 million, it should be based on in-house feasibility study.

Copyright Business Recorder, 2021

Comments

Comments are closed.