Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said has said that delay in the announcement of 8th National Finance Commission (NFC) Award is a major hurdle for Khyber Pakhtunkhwa government in finalizing loan agreements with international monetary organisations.
Talking to two different delegations of International Non-Governmental Organisation (INGOs) and overseas Pakistanis, he said that international financial organisations including International Monetary Fund (IMF) have assured loans to the provincial government on soft terms and conditions, but any new financial agreement of the province is linked with announcement of the new NFC Award.
In a recent meeting of the provincial minister for finance with the representative of IMF, the later while keeping in view the financial needs of the province have shown willingness for provision of soft loan to the provincial government.
For this, the provincial minister said that not only IMF, but British donor agency DFID, World Bank, Asian Development Bank, German and other international financial institutions have also appreciated the performance and growing confidence of the provincial government, its comprehensive reforms and legislation. But, they have consensus on finalizing the deals only with the constitution of 9th NFC Award and actual financial position of the province in this context as the surety and guarantee of the loans are also included in their duties.
Reiterating the principle stand of the coalition government, he clarified that instead of bowing before the foreign conditions, they believe in accepting assistance in the best interest of the people and turn to loans as a last resort, saying that instead of giving people once again in the clutches of financial institutions, we would rather consider a better option of poverty and simplicity. But, acknowledged grievances with federation, saying it is primary responsibility of the federal government to maintain unity, equality and justice with all federating units. However, he lamented cruelty, excesses and alienating treatment at the hands of centre.
The provincial minister said that Khyber Pakhtunkhwa is rich in natural resources including hydel power, forests, tourism, oil, gas and precious stones but all these resources are directly or indirectly under the control of the federal government and for 90 percent of the expenditure of our province we depend on funds provision by the federal government and FG intentionally delays the provision of funds to prevent the province from standing on its own feet. There is a growing sense of deprivation in the province and people are running out patience.
He said that NFC Award has become a big issue for KP government, even after the lapse of eight months to 7th NFC award federal government is not even little concerned about the constitutional lapse and the financial hardships of small federating units; on top of that it is employing delaying tactics. For last many months Federal govt is using the pretext of poverty and population surveys to delay the NFC Award.
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