Govt Utilizes 30% of Total Development Budget in Half Year

Muhammad Haris

The government has utilized only 30 percent of the total development budget during the half year.

The amount authorized to be spent under the Public Sector Development Fund or PSDP in six months of the current fiscal year amounted to 32% or Rs 306 billion.

According to the data received from the Ministry of Planning authorization approved in the six months of the FY 24 was around Rs 306 billion of this only Rs 149 billion was spent.

The total allocation for FY24 which was approved in June while announcing the Federal Budget was Rs 940 billion, of funds to be raised from domestic sources, were Rs 865 billion and Rs 75 billion from external sources.

The Cabinet Division spent Rs 35 billion, the provinces and special area Rs 29.5 billion, the water sector Rs 25 billion, and on Railways division Rs 11 billion.Health Experts Call for Higher Taxes on Sugary Drinks in Budget

The spending has been slashed owing to higher debt and interest payments. Sources revealed that the IMF wants to cut spending on projects that are teething stage and asks to complete which are essential ones.

The reduced spending to help trim fiscal deficit, said an analyst.