Peshawar: Despite the large degree of economic development in the province, the Khyber Pakhtunkhwa (KP) finance department was faced with considerable restrictions as it used its annual development budget for the current fiscal year.

Sources said that the provincial government allocated PKR3.435 billion to three departmental funding ventures in the 2020-21 fiscal year. Of the overall designated number, PKR176.298 million has been issued within the first six months (July-Dec) of FY21, while a limited amount of PKR71 million has thus far been invested in those initiatives.

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As per the records accessible to this scribe, the provincial government has provided more than PKR3.255 billion to its Tax Generation and Resource Management Program (with the help of the International Development Agency).

Overall, PKR82.298 million has been issued for the timeframe July-Dec 2020, with the department investing just PKR40.236 million so far on the venture.

Besides that, the Government of the KP has authorized PKR167,907 million to fund the Capacity Building and Stabilization Project of the Department. Therefore, a total of PKR47,092 million has been announced for the initiative, with the department investing just PKR18,684 million up to this point.

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Authorized sources told the Scribe that the Department is currently facing difficulties in achieving its goals under the annual growth plan, “as it has deployed unqualified people on current projects with the assistance of international institutions.”

Besides, as per an insider, “In addition to sluggish progress on financing related infrastructure development, essential projects of other departments are however faced with delays due to lack of availability of funds.”

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