ISLAMABAD: Khyber Pakhtunkhwa government while complaining of not receiving funds as per formula has approached the federal government for early release of Rs8.46 billion of development funds.
Muzzamil Aslam, Advisor to Chief Minister Khyber Pakhtunkhwa wrote a letter to Finance Minister Muhammad Aurangzeb in this regard, a copy of which is available with Business Recorder.
The letter noted as, this is to invite your attention to the federal government release policy for Development Budget, wherein, it has been mentioned that “Funds for Development Budget shall be authorized by Planning, Development and Special initiatives (PD&Sl) Division out of the Public Sector Development Programme (PSDP) allocation for current fiscal year for approved projects at 15 percent for quarter 1, 20 percent for quarter 2, 25 percent for Quarter 3 and 40 percent for Quarter 4.”
Contrary to the above, against an allocation of Rs42.315 billion under AIP, only 15 percent funds have been released so far, despite the fact that second quarter is about to end.
In view of the above, it is requested that funds amounting to Rs8.46 billion (20 per cent) for 2nd Quarter, may be released at the earliest so that the development activities under AIP in merged Districts may not suffer.
In a recent meeting of the Senate Standing Committee on Finance and Revenue, Senator Syed Shibli Faraz from Khyber Pakhtunkhwa also raised the matter of allocation under the National Finance Commission (NFC), while saying that following the erstwhile FATA’s merger with Khyber Pakhtunkhwa, resources were not enhanced as per one of the criteria i.e. population, which resulted in the distortions.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.