March 07 , 2016

News

Rs 1,292.549m grant approved for provinces
PPI

ISLAMABAD: Finance Minister Senator 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 Balochistan’s share is Rs 502.383 million, said a press statement issued on Sunday. It may be recalled that the CCI on July 31, 2013 had decided that the provinces would be allowed rate of return on their surpluses at the rate of latest T-bills rate maintained for a minimum of three months. In accordance with the decision, the incentive grant is released to the provinces on quarterly basis.

Courtesy www.dailytimes.com.pk

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