FY22: It's first time Punjab govt releases Rs144bn for ongoing development schemes on first day

The release of massive development fund made on the start of the fiscal year is the first time ever in the history of the province as the government is committed to the timely completion of development projects in order to keep the economic growth in the country at a steady pace.

Now 100 per cent funds have been released to ongoing development schemes in the province and it expected that now all the ongoing schemes would be completed without any further delay.

Punjab Finance Minister Makhdoom Hashim Jawan Bakht announced this while presiding over a review meeting on the progress of the action plan of the Finance Department for the implementation of the annual development program for the financial year 2021-22.

He observed that releasing of a significant amount of Rs 144.47 billion at the beginning of the new financial year was undoubtedly a great achievement of the PTI government. 

Further, the meeting was informed that the ongoing schemes for the financial year 2021-22 include 2274 schemes in the services, infrastructure, social and productive sectors. The government has allocated Rs 144.47 billion and also released it on Thursday (July 1st).

Immediate disbursement of funds to ongoing schemes has been decided for the rehabilitation of development programs affected by covid-19 during the last two years. After the provision of funds, the communication and works department and other concerned agencies will ensure work on ongoing schemes without any delay.

Further, an effective monitoring mechanism is being set up under the Planning and Development Department which will provide continuous monitoring services for the timely completion of significant government initiatives and major projects. 

The Chief Minister Punjab himself and other members of the government will also review the progress of the projects from time to time. All the concerned departments will fulfill their responsibilities within the stipulated time to remove the obstacles in the ongoing projects with the participation of foreign investors. 

The minister asked ensuring the quality of the development work alongside the pace of work in the newly started fiscal year. The services of the Directorate General of Monitoring and Evaluation will be sought to check the transparency and impartiality of the quality of the projects.

The agency will ensure third party audits in addition to its supervisory teams, he remarked. Other participants in the meeting included Secretary Finance Iftikhar Ali Saho, Secretary Planning and Development Board Imran Sikandar and concerned officers of the Finance Department and Planning and Development Board.

Finance Secretary Iftikhar Ali Saho stressed on the need to provide necessary human resources for the immediate rehabilitation of Special Policy Units in all major departments and assured the provincial minister of all possible cooperation from the finance department for timely completion of development schemes.

The minister directed the Planning and Development Department to monitor the development works and ensure implementation of impartial evaluation.