Rs. 1,292.549 million Incentive grant
approved for provinces
Chitral Times Report
Islamabad: Finance Minister Senator Muhammad Ishaq Dar has
approved release of Rs. 1,292.549 million incentive grant for
immediate apportionment among the provinces for the July-September
quarter of CFY 2015-16.
As approved Punjab will receive Rs. 271.714 million, Sindh Rs.
204.772 million, KP Rs. 313.680 million while Baluchistanís share
is Rs. 502.383 million.
It may be recalled that the CCI on July 31, 2013 had decided that
the provinces will be allowed rate of return on their surpluses at
the rate of latest T-Bills rate, maintained for a minimum of three
In accordance with the decision, the incentive grant is released to
the provinces on quarterly basis.
Meanwhile Finance Minister, Senator Mohammad
Ishaq Dar chaired a meeting of senior officials of Ministry of
Finance to review the status of preparation of budget 2016-17.
The meeting was apprised about the schedule of preparatory
activities. Secretary Finance on the occasion presented a
comparative analysis of the revenue and expenditure position in the
current year (2015-16) budget and made suggestions on the strategy
to be adopted for the next financial year i.e. 2016-17.
The meeting was informed that budget call circulars had already
been issued to Ministries and departments concerned to undertake
their preparations accordingly.
Finance Minister expressed satisfaction on fiscal results for the
first eight months of the CFY 2015-16. He stressed continued
vigilance on expenditure in line with revenue receipts so that the
budgetary targets are achieved without fail. Finance Minister
emphasized that the national security, rehabilitation of TDPs,
poverty reduction, energy and infrastructure development continue
to be the priorities of the government and the budget 2016-17
should reflect these priorities. He also stated that governmentís
focus on accelerated and inclusive economic growth should remain as
the guiding principle during the budget making process.