Whopping 58pc increase in PSDP

[Lahore_Real_Estate]

ISLAMABAD-The government on Friday announced a total Public Sector Development Programme (PSDP) of Rs 730 billion for the upcoming financial year 2011-2012 that is 58 per cent higher than the Rs 462 billion PSDP of outgoing fiscal year.
According to the details, an amount of Rs 290 billion has been allocated for the projects of the Federal Government, whereas Rs 430 billion have been earmarked for the provinces, that would be spent through their Annual Development Programmes (ADPs), while Rs 10 billion have been allocated for the Earthquake Reconstruction and Rehabilitation Authority (ERRA).
The Government was hopeful that the large size of the PSDP 2010-11 would reinforce the move towards economic recovery and the Annual Plan had forecasted GDP growth of 4.2 per cent for 2010-11.
The government did not allocate PSDP for those Ministries which are to be devolved according to the 18th Amendment including Health Division, Food and Agriculture Division, Education Division, Population Welfare Division, Livestock & Dairy Development Division, Environment Division, Special Initiatives Division, Women Development Division, Social Welfare & Special Education Division, Labour and Manpower Division, Local Government and Rural Development Division, Tourism Division, Culture Division, Sports Division and Youth Affairs Division.
Meanwhile, the distribution of Rs 290 billion Federal component of the PSDP in different Ministries/divisions/organisations is: Rs 36.136 billion for the Water and Power Division (Water Sector); Rs 22 billion for the Pakistan Atomic Energy Commission; Rs 10.370 billion for the Finance Division; Rs 15 billion for the Railway Division; Rs 31.974 billion for the Planning and Development Division; Rs 14 billion for Higher Education Commission (HEC); Rs 2.137 billion for Industries and Production Division, Rs 5.8 billion for Interior Division, Rs 3.845 billion for Defence Division, Rs 1.369 billion for Housing and Works Division, Rs 2.692 billion for Cabinet Division, Rs 1.146 billion for Science and Technological Research Division, Rs 1.20 billion for Law & Justice Division, Rs 1.970 billion for Revenue Division, Rs 149.7 million for Petroleum and Natural Resources Division, Rs 793.1 million for Information Technology and Telecom Division, Rs 1.455 billion for Defence Production Division, Rs 424.6 million for Commerce Division, Rs 172 million for Communication Division (other than NHA), Rs 744.3 million for Ports and Shipping Division, Rs 350 million for the Pakistan Nuclear Regulatory Authority.