ISLAMABAD: Prime Minister Shehbaz Sharif has directed Finance Minister Muhammad Aurangzeb to revise borrowing limit for provinces by re-basing the GDP (Gross Domestic Product) to latest figures, well-informed sources told Business Recorder.
He also asked finance minister that due share of Sindh under National Finance Commission (NFC) for FY 2022-23 and 2023-24 be immediately reconciled and transferred before June 30, 2024.
The directions given by the Prime Minister during a meeting with Sindh government team led by Chief Minister Murad Ali has been conveyed to all the concerned ministries and Divisions.
Jul-Mar borrowing stands at $6.899bn
Ways and means limit for provinces is to be updated/reconciled based on latest pay structure. Budget exercise for FY 2024-25 to include all provinces, including policies/decision on closure of provincial nature projects under caretaker government.
Chairman FBR and Chairman Sindh Revenue Board (SRB) have been asked to resolve dispute about at source deduction of input tax adjustment pending since 2022.
Finance Minister, Chairman FBR and Chief Secretary Sindh are tasked to resolve issue of unjustified deduction of Rs 5.4 billion by FBR as per law. The issue was highlighted by Chief Minister Sindh.
The Prime Minister has also assured Chief Minister Sindh that Federal government will honour its commitment on financial contribution to Sindh Emergency Housing Reconstruction Project (SEHRP).
Finance Ministry and Planning Division have been directed to release counterpart funds for construction/reconstruction of schools (budgeted and not released) for FY 2023-24 as informed by Chief Minister, Sindh. Federal Government has pledged to review lopsided Federal Public Sector Development Program (PSDP) allocations pointed out by Chief Minister and propose re-alignments wherever needed in the ongoing budget exercise keeping in view resource constraints and ongoing IMF program commitments.
Ministry of Planning, Development and Special Initiatives and Deputy Chairman Planning Commission will accord approval of revised K4 projects through all forums and issuance of authorization. They will also expedite approval of six donor funded projects forwarded to Planning Division by Sindh government.
Approval of Sindh Livestock and Aquaculture Development Project will be given top priority in view of World Bank deadline, besides immediate release of approved allocation of CFY for the project improvement/ lining of Kalri Baghar Feeder, extension of Manchar Lake and adequate allocation of coming years.
Ministry of Planning, Development and Special Initiatives and Ministry of Communication will ensure adequate funds for completion of Jamshoro Sehwan Road (N 55) as per Federal Government share in next PSDP as agreed and expedite the remaining works.
The sources said expediting engagement with PRC on framework agreement for execution of KCR is also envisaged. Sindh officials to accompany Minister for Planning and Development on China visit to expedite next steps. Ministry of Railways to resolve Right of Way (RoW) issue of KCR.
Petroleum Division will engage with government of Sindh to deliberate on oil and gas sector issues to work out way forward on issues presented by Chief Minister Sindh. Power Division will also engage with Sindh government to work out way forward on issues highlighted by Chief Minister.
For new water sector projects, due process will be followed at Indus River System Authority (IRSA) for approvals and concerns of Government of Sindh that may be considered at planning stage. Secretary Aviation to expedite required No Objection Certificate (NOC) for NED Technology Park to be processed immediately.
Federal government will provide 150 busses for public transport system in Karachi as requested by Chief Minister Sindh.
The success of Public Private Partnership (PPP) model developed by Government of Sindh to be studied and disseminated for replication at federal level as well as other provinces.
Copyright Business Recorder, 2024
Comments
Comments are closed.