PSDP goes dry in full; no money for release in last quarter

Ahsan Iqbal’s May 30th Tweet spoke loudly about the state of our economy and cash availability. The situation has aggravated to a point where the country’s Public Sector Development Program (PSDP) will go completely dry in the last quarter of the current fiscal year.
The Planning and Development (P&D) minister tweeted: Let me share with you the extent & state of the damaged economy we have inherited. For the first time in the country’s history, the Ministry of Finance has notified that there will be zero release of funds for the development budget during the last quarter.
Worth Rs.900 billion PSDP that had already undergone a huge cut of Rs.400 billion during Imran Khan’s government had little over Rs.466 billion for the period spread over July to March (2021-22) whereas the authorization stood at Rs.603 billion.
The P&D figures show the Finance Department released only 51.8 percent of the total budgeted amount of the program for the period July-March.
During July-March 2021-22 only 51.8 percent of the total budgeted PSDP was released while authorization was Rs136.9 billion less than what was actually disbursed in the July-March period.
Even the federal ministries and their departments were given Rs.45 billion less than what they were supposed to get for their expenditures.
Interestingly enough, the Power Division got Rs39.65 billion against its authorization of Rs12.27 billion, 223 percent more than it was supposed to get. The water Resources Division spent Rs4.8 billion which is also 7.5 percent more than the actual authorization.
The rest of the divisions are here.