KARACHI: The release of funds in Sindh under Public Sector Development Programme (PSDP) stood at Rs89 billion in the first quarter of financial year 2021-22.

The release of funds came to 27 percent against the total allocation of Rs329 billion PSDP for the current fiscal.

However the utilization of funds against the releases in the first quarter of this fiscal was 33 percent as only Rs29 billion were utilized against the releases.

According to a summary of the provincial government, the release of amount and its utilization include provincial and district Annual Development Programmes and federal grants and foreign assistance for the development projects in Sindh.

The Sindh government’s PSDP of Rs.329 billion includes Rs222.5 billion for provincial ADP, Rs30 billion for district ADP, Rs71.16 billion for foreign project assistance and Rs5.36 billion of federal grants.

In provincial ADP, against the total allocation of Rs222.500 billion for the current fiscal, Rs53 billion were released, which is 27 percent of the total allocation. However the funds utilized against the releases came to Rs24.87 billion, which is 42 percent of the actual releases.

In district ADP, Rs10 billion were released against total allocation of Rs30 billion, which is 35 percent of the allocations and Rs1.1 billion were utilized, which is 11 percent of the releases.

In foreign project assistance head, Rs19 billion of the funds released against allocation of Rs71 billion, which is 27 percent and utilization of the funds came to Rs3.4 billion, which is 18 percent.

In federal grants, only Rs0.478 billion were released against the allocation of Rs5.36 billion in the first quarter and funds utilized were Rs0.311 billion in the quarter under review.

Copyright Business Recorder, 2021