During the first quarter (July-Sept.) of the current fiscal year (FY) 2022-23, the Planning Commission will distribute 20% of the development funds (Rs. 160 billion).
For the current fiscal year, the Public Sector Development Program (PSDP) was authorized by Parliament with an allocation of Rs. 800 billion, of which Rs. 160 billion will be distributed in the first quarter of FY23.
Guidelines for the disbursement of development funds for the current fiscal year have been sent by the Finance Ministry to the Planning Commission.
The Planning Commission will disburse 20% of the total allotted PSDP during the first quarter of the current budget year (July-Sept), 25% during the second quarter (Oct.-Dec.), 30% during the third quarter (Jan.-March), and 25% during the final quarter (April-June).
The Finance Ministry additionally instructed that the Principal Accounting Officers (PAOs) responsible and the Ministry of Planning, while carrying out the development projects, should guarantee the execution of the Chapter III Public Finance Management Act of 2019 requirements.
According to the finance minister, the Ministry of Planning, Development, and Special Initiatives is required to create a quarterly sector-, project-, and division-specific plan for the release of funds for the PSDP within the limits of the appropriations authorized by the National Assembly and listed in the Schedule of Authorized Expenditure.
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