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Rs. 1,292.549 million incentive grants approved for provinces

Islamabad, March 06, 2016 (PPI-OT): Finance Minister Senator Muhammad Ishaq Dar has approved release of Rs. 1,292.549 million incentive grants 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 Baluchistan’s 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 months. In accordance with the decision, the incentive grant is released to the provinces on quarterly basis.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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