Prime Minister Imran Khan has stressed the need for ensuring optimal and timely utilization of funds allocated by the Federal Government under Public Sector Development Program.
Chairing a meeting to review progress on PSDP in Islamabad on Wednesday, he instructed the Planning Commission to come up with a monthly performance review report so as to determine the reasons behind the under-utilization of the funds allocated for the vital Public Sector Development programs.
He said policies need to be well-thought-out and harmonized to yield desired results.
Imran Khan stressed to enhance coordination among the ministries for early and effective completion of the projects. He also directed that focus should be on those ministries which are executing development projects as this would facilitate job creation and counter unemployment.
He said economic development would ensure better opportunities for the youth of the country.
The meeting also reviewed in detail the release of funds to various corporations and authorities, and satisfactory results of the block allocations to Azad Kashmir and Gilgit Baltistan.
It was informed that an elaborate exercise has been carried out by the Planning Commission to extend support and facilitation to CDWP and ECNEC projects.
The participants were briefed that during the current Fiscal Year, a total of 170 projects will be completed out of which 38 are mega projects. A specific monitoring and evaluation setup is being established at the Planning Commission to ensure completion of all these projects within the timelines.
The meeting was briefed that an amount of 701 billion rupees has been allocated under the PSDP during the Fiscal Year 2019-20 for development projects.
It was apprised that powers have been given to the Principal Accounting Officers for the release of funds for projects amounting less than 2 billion rupees to expedite progress on projects allocated to different ministries.