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Senate body directs finance ministry to release funds for FBR projects

Senate body directs finance ministry to release funds for FBR projects

ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Economic Affairs has directed the ministry of finance and planning to timely release the development funds allocated for the projects of Federal Board of Revenue under Public Sector Development Programme (PSDP).

The Senate committee has approved allocation of Rs 6.155 billion for its 49 new and ongoing FBR development projects under the PSDP 2018-19.

The Senate Standing Committee on Finance, Revenue and Economic Affairs, which met under the chair of Senator Saleem Mandviwalla, discussed the PSDP of the Revenue Division for the upcoming financial year. The committee was informed that FBR has proposed 25 new development projects and 5 ongoing projects for the next fiscal year.

The committee was informed that there are many ongoing projects of the FBR, which had not completed due to the shortage of funds. The committee expressed displeasure over the government’s policy for not releasing funds for the ongoing development projects, which are delaying with the passage of every year.

The committee also approved the PSDP of the Narcotics Control Division for the next fiscal year. Secretary Narcotics Control Division informed the committee that there are three ongoing projects and 15 new development projects proposed for the Narcotics Control Division for the next fiscal year. It proposed to allocate Rs5.6 billion for its 21 projects.