The Planning Commission accelerated spending on development projects by approving a spending of 255.7 billion rupees in the first four months of the last fiscal year. Over the same period last year, it increased by nearly 144pc, compared with 106 billion rupees.
According to data released
According to data released by the Commission on Sunday, it approved the release of 255.7 billion rupees (Rs257.17bn) for development projects as of November 1, 2019, which amounted to about 37pc of 160 billion rupees per year. During that period of the last fiscal year, the commission allowed spending of 146 billion rupees, accounting for 15.6 pcs of 160 billion rupees per year.
This, in line with the advice of the Federal and Local Governments of the International Monetary Fund (IMF), utilized the development fund to its fullest, as a stimulus to activate economic growth, estimated at 2.4pc in the current year.
According to the financial management formula, ministries, departments and other executive agencies should spend 20pc for each development allocation in the first and second quarters of the fiscal year and 30pc each for the third quarter. For salaries and pensions, funding can go up to 25pc of the annual budget for each quarter.
This means that
The total release of the development project can reach an annual quota of 40pc for the first half year target setting for the next few days. For the first time in recent history, this is the first time that spending in the first four months in the public sector development program (37pc) has reached its 40pc target in the first quarter. But in the first four months of this year, nearly 60pc was caused by four factors.
This includes 80 billion rupees for the National Highway Authority, which mainly carries out the Sino-Pakistan economic corridor project, accounting for 52pc of 151 billion rupees per year. Another major chunk of Rs26.78bn was spent improving security on Rs32bn's total allocation. This means that more than 82pc of funds allocated for enhanced security have already been spent throughout the fiscal year.
Another major chunk of Rs 12.8bn was released for the development of the merged tribal region of Khyber Pakhtunkhwa, where the government set an allocation of Rs72bn during the year. Similarly, about 30 billion Rs has been provided to the water sector for an allocation of about Rs86bn.
In addition, another stake of 16 billion rupees was released to the Cabinet Division for Karachi's five major development projects and small-scale initiatives in line with its sustainable development goals. The release of 2 billion Rs for the SDGs was made through parliamentarians.
Special Development Program
The Planning Commission said there were no funds available for this special development program, which was allocated Rs 25.5 billion this year. The Commission reported that during the four months of this fiscal year, it approves the payment of 111.4 billion rupees (37.62pc) to the Federal Department's normal development program for the allocation of Rs304bn.
Gilgit-Baltistan last year provided 65 billion rupees, compared to 78 billion rupees, a reduction of about 19pc Azad Kashmir received 106.4 billion rupees (R) so far in the current year, compared to 107.7 billion rupees (Rs) from last year. The government announced 11 billion rupees to the Higher Education Commission this year, compared to 4.6 billion rupees compared with last year.
The government has now stopped disclosing funds available to the Pakistan Atomic Energy Commission. The Ministry of Railways received 5.4 billion rupees this year compared to 4.1 billion rupees over the same period last year.
Funding policy for fiscal year 2019-20
This follows the new funding policy for fiscal year 2019-20, which was recently notified by the Ministry of Finance. All departments, departments, local and local governments have been instructed to follow quarterly targets. They were informed that incidents involving international and domestic contracts or mandatory payments in excess of the above limits should be considered on a case-by-case basis and require prior approval from the Minister of Finance in order to rest.
For public sector development programs, the Treasury has notified that it will not be able to issue funds for unapproved projects and will release funds from the planning department for the first quarter, which does not exceed 500 million rupees. For amounts in excess of Rs500m, please contact the Budget Treasury Budget Department for customs clearance methods and means.
Funding after the second quarter is recommended by a lawful investigation by the Planning Department, along with cash or work planning, methods and means of organizing, cash and work planning, a report of formally coordinated fund utilization with the Pakistani accountant governor, and Chief Accountant.
For projects, if funds are not released during the first two quarters, only 40pc of quota will be released for the remaining two quarters.
Prime Minister Lim Lan
Lim Lan expressed his satisfaction with the opening of the Kartarpur corridor on Sunday, November 9, renounced passport conditions for Sikh pilgrims, and the 550th anniversary of Baba Guru Nanak Dev Ji's birth. Pakistan's Muslim League-Nawaz Asan Iqbal senior leader accused the prime minister of taking “security risks” by withdrawing this condition on Saturday, saying that such action had not been done before.
Awa Congressman Mian Iftikhar Hussain, meanwhile, said he was committing atrocities in Kashmir, which was occupied by India, but Khan said he is providing unprecedented facilities to Indians. Pakistani People's Party chairman Bilawal Bhutto-Zardari expressed similar views on Sunday. Speaking with journalists in the Bahawalpur, the measure said the occupied Kashmir people would wonder if Pakistan was "really serious about the cause of Kashmir.
Efforts to Facilitate India to Sikh Visitors
On Friday, the Prime Minister announced that in addition to passport conditions, the pilgrim registration requirements were lifted 10 days before arrival in the Kartarpur corridor. The Prime Minister presided over an open meeting to review the preparations for Sunday's opening ceremony, saying India was not willing to open the corridor with happiness.
He also expressed fears that he could attempt to "destroy" what he tried to help the Sikh pilgrims on the other side of the border. Khan praised his government for completing the corridor project “in record time. He said the corridor is now ready to welcome Sikh pilgrims from all over the world.
Syrian prime ministers said that Sikhs who want to cross into Pakistan to participate in Guru Nanak's birthday celebrations will need to prove their identity because they will come from the Indian side through thorough inspection and customs clearance.
According to the Prime Minister
The meeting was attended by the Minister of Religious Affairs Norul Hakkadri and the Minister of Interior of the Ministry of Foreign Affairs and the Ministry of Foreign Affairs, Ministry of Foreign Affairs, Defense, Treasury and Religion. Following the negotiations, Pakistan and India signed an agreement last month for the inauguration of the Kartarpur Hall.
The 4 km long corridor offers visa-free travel to Sikh pilgrims between Darbar Sahib in Kartarpur and Dera Baba Nanak Shrine in the Gurdaspur region of India. The plan to double capacity will allow up to 5,000 Indian Sikhs to access daily. Khan launches the Karthpur corridor, where on November 9, India's cricket star and councilor Navjot Singh Sidhu was invited.
According to media reports
India shared 575 people with Pakistan, part of the first Sikh delegation who visited Gurwara Dar Barsahib after passing through a newly built corridor. 72 immigration counters have been set up to accommodate about 5,000 Sikh pilgrims from India. According to media reports, the border terminal is 350 meters from the zero point, and pilgrims will be transported by bus to Gurdwara.
Darbar Sahib Kartarpur is 4.5 km from the international border of the Narowal district and is one of the most holy places of the Sikhs. Baba Guru Nanak Dev Ji is where he settled and preached during the last 18 years of his life and is his last rest stop.
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