Summary sent to ECC for implementation of IMF conditions.
Private TV channel said finance ministry has sent the summary on implementation of terms and the conditions set by IMF to ECC for consideration. The Council of Common Interests will consider this summary today.
As per documents it will be binding on the provinces to provide surplus budget to federal government in the next fiscal year in line with the proposal of ministry of finance. A sum of Rs 117 billion will be acquired surplus from the provinces during the current financial year. Rs 60 billion will be obtained from Punjab, Rs 30 billion from Sindh, Rs 17 billion from Khyber Pakhtunkhwa and Rs 10 billion from Balochistan. This surplus amount will be kept in Federal Government Account No 1.
This surplus budget will help bring down fiscal deficit of the budget of the current financial year to the level of 6.3 percent.
|Printer friendly Cite/link Email Feedback|
|Publication:||Balochistan Times (Baluchistan Province, Pakistan)|
|Date:||Jul 24, 2013|
|Previous Article:||Pakistan to receive $100m funds from Saudi for Neelam Jhelum hydro project.|
|Next Article:||Govt to provide electricity to the poor on subsidized rates: Asif.|