The NWFP government on Tuesday withdrew its decision to boycott the two-day National Finance Commission (NFC) meeting being held in Karachi from Wednesday. Unhappy with the delay in the payment of Rs 10 billion, announced by Prime Minister Yousuf Raza Gilani in head of net profit on hydel power generation, the provincial government decided to boycott the NFC meeting.
The Federal government has accepted the onus of the payment of the outstanding amount of Rs 110 billion against the Water and Power Development Authority (Wapda). "The Federal government has released Rs 10 billion to NWFP on account of net hydel profit arrears and all the members of the NWFP's NFC team are in Karachi to participate in the session," announced NWFP Information Minister Mian Iftikhar Hussain, while addressing at a press conference.
Finance Minister Engineer Humayun Khan, who was also present on the occasion, said the Finance Ministry had issued the release order of the first instalment of Rs 10 billion. Mian Iftikhar thanked Prime Minister Syed Yousuf Raza Gilani and Finance Minister Shaukat Tarin for taking interest resolving this longstanding issue.
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