The CPEC consists of 38 development projects of various sectors, including Aviation Division, National Highway Authority (NHA), Finance Division, Information Technology and Telecom Division, Interior Division, Planning Development and Reforms Division, Port and Shipping Division, Railway Division and Water and Power Division (power sector). According to the latest data released by the Ministry of Planning, Development and Reform, the government has released Rs 170 billion (71.8 per cent of total budgeted allocation) including Rs 8.1 billion foreign aid for development projects of various federal ministries against the total budgeted allocation of Rs 236 billion.
However, the government has yet to release funds for development projects of Foreign Affairs Division, Textile Industry Division and GAS Infrastructure Development Fund.
The government has released Rs 166.2 billion including Rs 79.1 billion foreign aid for infrastructure projects of National Highway Authority (NHA) against the budgeted allocation of Rs 192 billion. The government has also released Rs 33.86 billion for development projects of Pakistan Railway Division against total budgeted allocation of Rs 41 billion for current fiscal year 2016-17. Planning Commission released Rs 22.57 billion including Rs 7.3 billion foreign aid, for different projects of the Pakistan Atomic Energy Commission against the total budgeted allocation of Rs 28.8 billion for fiscal year 2016-17. During the period under review, an amount of Rs 24.12 billion including Rs 210.37 million foreign aid was released for Water and Power Division (water sector) for the construction and development of water reservoirs for water conservation, irrigation and power generations against the total allocation of Rs 31.71 billion. A total of Rs 121.3 billion, including Rs 51.4 billion foreign aid was released for WAPDA (power sector) for development power projects against the budgeted allocation of Rs 130 billion.
Under the PSDP 2016-17, the government has released Rs 19.17 billion including Rs 73.8 million for different projects of Higher Education Commission (HEC) as against the total allocations of Rs 21.486 billion.
The government released Rs 2.24 billion for Capital Administration and Development Division, Rs 581 million for Climate Change Division, Rs 2.3 billion for Defence Production Division, Rs 11 billion for Interior Division, Rs 177.7 million for Pakistan Nuclear Regulatory Authority and Rs 2.62 billion for Planning, Development and Reform. Under PSDP 2016-17, an amount of Rs 7.22 billion was released for different development projects of Housing and Works Division against the total budgeted allocation of Rs 8.2 billion. The government released Rs 779.15 million for different developmental projects of National Food Security and Research Division against the earmarked Rs 15.2 billion for the development of agriculture sector in the country.
An amount of Rs 21.1 billion including Rs 523.8 millions foreign aid has been released for the National Health Services, Regulation and Co-ordination Division against the budgeted allocation of Rs 24.951 billion in the PSDP for the uplift of health sector of the country. The government has released Rs 52.3 billion for special federal development programme for temporarily displaced persons (TDPs) and security enhancement under current year''s development programme for the rehabilitation of TDPs against the total allocation of Rs 100 billion.
The government released Rs 1.39 billion for Federal Education and Professional Training Division against a total of Rs 2.23 billion budgeted allocation. An amount of Rs 4.72 billion has been released for Finance Division, Rs 2.87 billion for Aviation Division, Rs 296 million for Defence Division and Rs 1.58 billion for Science and Technological Research Division.
The government released Rs 18 billion including Rs 4.12 billion foreign aid for development projects of Azad Jammu and Kashmir against the total budgeted allocation of Rs 14.7 billion for current fiscal year. The government also released Rs 9.64 billion for development projects of Gilgit-Baltistan against Rs 11.2 billion budgeted allocation, while Rs 21.5 billion including Rs 134.9 million foreign aid has been released for the projects of Federally Administered Tribal Areas (FATA) against the total budgeted allocation of Rs 22.3 billion.
The Planning Commission of Pakistan has so far followed the stipulated mechanism for release of funds: first quarter (July-September) 20 per cent, second quarter (October-December) 20 per cent, third quarter (January-March) 30 per cent and fourth quarter (April-June) 30 per cent.
Copyright Business Recorder, 2017