Financial crisis: LG autonomous bodies refuse to transfer funds to KP govt

PESHAWAR: The autonomous bodies of the KP Local Government Department have refused to transfer their funds to account one, saying that such transfer is not possible given their prevailing financial conditions.

According to sources, Khyber Pakhtunkhwa (KP) government has been relying on the funds of the autonomous institutions of the Local Government Department to show availability of fund in its account to the State Bank of Pakistan.

The government had estimated that Rs18 billion is available in the account of the Peshawar Development Authority, Water and Sanitation Services Companies, Urban Development Authorities, and Tehsil Municipal Administrations which will be transferred to the account of the provincial government, but the local bodies have refused to transfer these funds.

The sources stated that the local bodies have made it clear that they do not have enough funds to meet the current expenditure, thus, it will be difficult to transfer the funds to the provincial government. Similarly, even if they provide funds to the government, there is no possibility that the government will transfer it back to the local government bodies concerned.

 

 

 

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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