KP cabinet resolves strict fiscal steps

PESHAWAR: The provincial cabinet of Khyber Pakhtunkhwa has decided for maintaining strict financial discipline and cut in the non-development expenditure for the current financial year.The decision has been taken in a meeting of the provincial cabinet held here with Chief Minister Ameer Haider Khan Hoti in their chair in the Cabinet Room of the Civil Secretariat on Monday. It was 33rd meeting of the present provincial cabinet of the province.Briefing the media here at the Conference Room of the Provincial Assembly, Provincial Minister for Information, Mian Iftikhar Hussein said that the meeting observed that budget for the current financial year 2010-11 was a deficit free and balance budget.

However, it said that since very beginning of the financial year, the provincial government has been facing deficit.He said that at the time of the announcement of the National Finance Commission (NFC) Award, the share of the province from the federal divisible pool was estimated at Rs.121 billion. However, he said that considering the trend of the pace of the transfer of funds, the share of the province is likely to decline by Rs.12 billion.Therefore, he said the cabinet decided initiating strict monetary discipline and cut in the non-developmental expenditure during last six months of the financial year.The provincial cabinet offered fateha for the martyrs of Timergara, Charsadda and Swabi explosions, maternal uncle of the provincial minister, Syed Zahir Ali Shah and sister of Chief Secretary, Ghulam Dastagir. – Thenews