LAHORE: Punjab Finance Department has released funds amounting to Rs 221 billion under Annual Development Plan (ADP) 2021-22 during first quarter of current fiscal year. This year’s releases are almost double to the funds released last year during the first quarter which stood at Rs 135 billion, according to a spokesman for the department. He added that all funds were released in a timely manner after completing all financial scrutiny, as per the rules, and in consultation with the Punjab Planning and Development Board. Meanwhile, Finance Secretary Iftikhar Ali Saho said, “The provincial Finance Department is working closely with Planning and Development Board for prompt releases of newly approved development projects, whereas, 100 per cent allocation for all ongoing projects, Rs 144 billion, were released on 1st July 2021.’’ The provincial Finance Department being the custodian of the provincial exchequer has an overall responsibility to make critical scrutiny of financial proposals with reference to need and cost effectiveness, budget allocations etc., he said and asserted, “The department makes sure all development projects receive funds on time and a due process is being followed for all this. The Finance Department is committed to provide development budget for the ongoing fiscal year.” He mentioned that development allocations of the provincial budget for FY 2021-22 were increased by 66 per cent to Rs 560 billion from last year’s Rs 337bn with a special focus on social sector and infrastructure development which claimed 63 per cent of the Annual Development Plan 2021-22.
Wednesday, October 07, 2026