Minister: (Rs. 1,292.549 million incentive grant approved for provinces)

March 5, 2016 Off By Web Desk

ISLAMABAD: Finance Minister Senator Mohammad 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 Baluchistan’s share is Rs. 502.383 million, says a press statement issued here on Sunday.

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.