PM Sharif for maximum utilisation of PSDP funds

11:48 PM | 4 May, 2015
PM Sharif for maximum utilisation of PSDP funds
ISLAMABAD (Web Desk) – The prime minister has issued instructions for maximum utilisation of the allocated Public Sector Development Programme (PSDP) funds on uplift projects for benefit of the general public.

The orders from premier Nawaz Sharif to Federal Minister for Planning and Development Ahsan Iqbal came on Monday during a review meeting for utilisation of the PSDP at the Prime Minister's House here.

Sharif, who was presiding, said steps should be taken for swift completion of important projects and the allocated amount be utilised fully.

Earlier, Federal Minister Ahsan Iqbal gave a presentation to the premier, providing an overview of the PSDP spending in the ongoing fiscal year.

It included the proposed allocation for next year on projects that are part of the China Pakistan Economic Corridor (CPEC) and on LNG-based power projects.

Nawaz Sharif was informed that 72 per cent of the allocated amount of Rs525 billion had been released so far for projects in the ongoing financial year, 2014-15.

The premier approved changes in the release mechanism of the PSDP funds in each quarter of the year for efficient utilisation of funds.