KARACHI: The utilization of funds stood at 17 percent against the released funds in the first month of current financial year 2021-22 under Public Sector Development Programme in the province of Sindh.

According to a summary of utilization of funds of the provincial government, the release of amount and its utilization includes the provincial and district Annual Development Programme and federal grants.

According to the summary, Rs329 billion has been allocated in Sindh budget for the current fiscal for public sector development programme including Annual Development Plan of Sindh, districts ADPs, federal funded projects and foreign assistance projects.

The released figures indicate that almost Rs42 billion were released in the first month of current financial year, which is 13 percent of the allocations for the whole year.

The utilization of funds against the released amount showed that Rs7 billion were spent on different schemes, which is 17 percent of the released funds.

The data showed that in Sindh ADP, which has been set at Rs.222.5 billion, a total of Rs.38 billion were released, which is 70 percent of the total allocations. However, the funds utilized against the released funds came to Rs7 billion.

In district ADPs for the current financial year for which Rs30 billions were allocated, no funds were released or utilization was witnessed in the first month of current financial year.

Against the federal grants of Rs.5.369 billion during the current fiscal, the funds released totalled at Rs.0.353 billion.

In foreign assistance projects, Rs.71 billion have been allocated in the budget, of which Rs.3.365 billion were released, which is five percent of the total allocation and the funds utilization stood at three percent against these releases.

Copyright Business Recorder, 2021