Govt Releases Rs 4.21b for Information Technology (IT) Project in 4 Months
The government has released funds amounting to over Rs 4.21 billion to execute Information Technology related projects during the first four months of the current fiscal year under the Public Sector Development Programme (PSDP 2022-23).
According to official data available with APP, the government has authorized the utilization of development funds amounting to Rs. 4,211.21 million out of a total allocation of 5,731.70 for various ongoing and new projects of the Ministry of Information Technology and Telecommunication.
Out of the total authorized/disbursed amount, the total amount spent on the development projects during the corresponding period (July-October) stood at 3,487.32 million.
According to the disbursement mechanism of the Planning Division, the development funds allocated in the Federal budget are released at the rate of 20 percent in the first quarter (July-September), followed by 30 per cent each in the second and third quarters, and the remaining 20 per cent in the last quarter (April-June) of a fiscal year.
Source: Urdu Point