KP to immediately release funds for near-completion projects

ISLAMABAD: The Khyber Pakhtunkhwa government decided to immediately release funds to the projects which couldn’t be completed because of financial crisis in the previous financial year.

The administrative departments have been asked to provide relevant details of such projects so that it could be completed without further delay. The departments will submit details of funds for the projects, work so far done and payments made to the contractors.

Similarly, details of re-allocation for these projects, details of cheques issued to contractors which couldn’t be cashed till June 30 and details of cheques which were refused to be cashed by the Accountant General’s Office have been sought from all departments. Upon receipt, the Finance Department will release funds for these projects.

A letter issued by the Development and Planning Department said that due to financial crisis in the previous financial year, the provincial government couldn’t release funds for the nearing completion projects after reallocation of funds. As a result, payments to contractors also halted therefore, it has been decided to immediately release funds to such projects.

Aziz Buneri
Aziz Buneri
Author is a senior journalist and working in the field of journalism since 2004. He covers Financial, Social, Political and regional issues for Pakistan today and Profit. He can reached at [email protected]
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