PESHAWAR, May 6: The NWFP government has, so far, released over Rs554 million to finance district specific on-going development schemes in line with its envisaged plan to bring down its development schemes portfolio at the close of the current financial year, according to sources.

“Although the continued resource experienced by the NWFP government for most part of the current financial year lend negative affect to its over all development activities, it managed to raise funds for the on-going development schemes,” said senior officials.

The provincial finance managers projected to raise over Rs600 million during the financial year 2001-02 to fund the on-going schemes against which a total of Rs555 million had been released during the first nine months of the current fiscal, the sources said.

Development planners of the NWFP seem optimistic about the government’s chances to bring down its on-going development schemes portfolio as a result of releasing of funds in line with its envisaged plan thereunder a total of Rs608 million had to be spent on the district specific development works.

According to sources, the provincial government had brought down the total number of its on-going development schemes from 835 in June 2000 to 719 in July 2001.

Whereas, the sources said, during the current financial year the provincial government was considering reducing its on-going development schemes portfolio to a further low to 373 by spending more on the high priority projects.

“During the last two financial years, the number of projects in the (on-going) portfolio has been reduced by two-third and the throw-forward fiscal liabilities to complete the on-going projects was managed to be reduced by 65 per cent,” said the sources.

Similarly, by the close of the current financial year the NWFP government was looking forward to reduce further by 50 per cent its on-going development schemes, achieving 25 per cent reduction in its throw-forward liabilities, the sources added.