ISLAMABAD, April 17: The government has started its budget-making exercise to finalise next year’s development programme by April 24 for approval by the Annual Plan Coordination Committee (APCC) which is expected to meet in the first week of May.
Informed sources told Dawn on Monday that the ministry of finance and planning commission were holding meetings of the priorities committee on a daily basis with the line ministries to finalise sector-wise financial allocations for next year’s development programme, commonly known as the Public Sector Development Programme (PSDP 2006-07). The priorities committee meetings would continue till April 22.
The finance ministry and the planning commission have asked all ministries, divisions, provincial governments and autonomous bodies to submit the utilisation of allocations for the current year by May 15.
The agencies have also been asked to provide information about surplus funds still lying unutilised and whether they would surrender it or would be consuming it before the close of the financial year on June 30, 2006.
They have also been advised to submit estimates of additional funds they may require during the current fiscal year so that unutilised funds from other sectors or slow-moving projects could be diverted to them for full utilisation of Rs204 billion allocated for the current year’s PSDP.
Based on these estimates, the sources said, the planning commission would make readjustments in the current year’s development allocations.
The centre has also directed the ministries, provincial governments and autonomous bodies to submit details of their foreign exchange requirements for next year along with loan grants in aid or commodity aid commitments as their lump sum demands would not be considered in finalisation of the foreign exchange budget for 2006-07.
Similarly, all relevant authorities have been asked to make revised estimates for the remaining period of the current fiscal year.
