ISLAMABAD: The government on Thursday announced to change in budget release process in a bid to increase the execution speed of development projects and schemes.
The government, under these reforms, has decided to release 50% of the total annual allocations for development projects in the first half of this fiscal year. Previously, 40% of funds were authorised to Public Sector Development Programme (PSDP) projects in the first six months with 20% funds allocated in the first two quarters.
The decision came days after the International Monetary Fund (IMF) advised the federal and provincial governments to ensure maximum utilisation of development funds to aid the ailing economic growth which per an estimate stands at 2.4% for the current year.
“The step is aimed at easing funds flow and removing bottlenecks, to boost economic development,” said the Ministry of Finance in a statement.
The revised mechanism would also enable the planning and other line ministries and divisions to effectively utilise PSDP funds.
For more news and blogs, visit graana.com
Islamabad: The Federal Board of Revenue (FBR) is preparing to seek approval from the International…
Riyadh: As Saudi Arabia’s Vision 2030 enters its third phase for the period 2026–2030, the…
Islamabad: The Capital Development Authority (CDA) has earmarked PKR 200 million to settle outstanding land…
Lahore: Punjab Governor Sardar Saleem Haider Khan has promulgated two key ordinances aimed at modernising…
Islamabad: Pakistan’s tax authorities are intensifying efforts to detect undeclared wealth by monitoring social media…
Karachi: The State Bank of Pakistan (SBP) has indicated that it will maintain a cautious…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
