PSDP spending exceeds Rs650 bn target in FY2020-21: Asad Umar ‎

ISLAMABAD: Federal Minister for Planning and Development Asad Umar on Tuesday said that the overall spending on uplift projects from Public Sector Development Programme (PSDP) during the last fiscal year 2020-21 has exceeded the target of Rs650 billion, ARY NEWS reported.   

Taking to Twitter to make the announcement, Asad Umar said that the total PSDP spending in FY 2020- 21 was Rs659 billion against the target of Rs650 billion, making it a 101.4 percent utilization.

Total PSDP spending in 2020 – 21 was 659 billion vs a target of 650 billion or 101.4%. This is the highest development funds utilization since 2011-12. In a year of covid restrictions , this exceptionally high development spending reflects resolve of PMIK to accelerate growth

— Asad Umar (@Asad_Umar) July 27, 2021

“This is the highest development funds utilization since 2011-12,” he said and added that in a year of Covid restrictions, this exceptionally high development spending reflects the resolve of Prime Minister Imran Khan to accelerate growth.

It is pertinent to mention here that the federal government has increased the PSDP allocation by 38 percent to Rs900 billion for FY2021-22 in the budget presented by Finance Minister Shaukat Tarin.

Read More: FY2021-22 BUDGET EARMARKED RS900B IN PSDP, PLANNING COMMISSION SAYS

On June 11, Finance Minister Shaukat Tarin unveiled the Rs8.5 trillion federal budget 2021-22 in the National Assembly and announced billions of rupees in terms of loans for underprivileged segments of the society besides earmarking money for hydro and housing projects.

For health, about Rs28 billion and for education about Rs42 billion have been designated in the federal PSDP.