Punjab govt’s funds of Rs9.69bn for public projects lapsed

By: News Desk
Published: 06:33 PM, 12 Sep, 2022
Punjab govt’s funds of Rs9.69bn for public projects lapsed
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The Punjab Government has failed to utilize international funding worth Rs9.69 billion allocated for public projects during the financial year 2021-22, reported 24NewsHD TV Channel on Monday.  

According to data issued by the State Bank of Pakistan for the Punjab Planning and Development Board (P&D Board), it is revealed that Asian Development Bank had given loans to the Punjab government under Human Capital Program and Poverty Elimination Program.

The funds were to be utilized for public projects in 13 different sectors. These include irrigation, the development of cities, and water supply schemes.

Loan given by the World Bank for the rehabilitation of flood-affected areas including climate change also lapsed.

The sources said that the P&D Board will again seek approval from the cabinet for the utilization of funds for these projects.  

They said delays in the decision-making process, inefficient rulers, political instability, and strict rules and regulations are to blame for the poor utilization of funds assigned to the province for development. At the end of the fiscal year 2021-2022 on 30 June, these funds lapsed.

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