AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Punjab former Chief Minister Chaudhry Pervaiz Elahi addressing a press conference here Sunday has castigated the prevailing provincial government with making its over draft of State Bank of Pakistan swell to Rs 80 billion. He said this has happened due to inefficiency of the government.
He said due to the policies of the current provincial government each child of the province was now in debt adding that when they left the government budget of Punjab was in surplus. The former Chief Minister of Punjab dilated that provincial government of Punjab was not implementing their development projects.
He said cheques of provincial government given to the affected of Moon Market were not being cashed. Pervaiz Elahi strongly criticised the government for higher inflation in the country and said people were heavily suffering because of that.
Meanwhile spokesman of Punjab government during the day has clarified that there was no financial crisis in the province neither funds had been withheld for any project under development budget. On the contrary, he said, Punjab government had released funds of Rs 123 billion for development projects in the first five months of the current fiscal year out of which Rs 51 billion had already been spent. He further said that the pace of work on development projects was satisfactory and 42 percent of the funds released had been utilised.
The spokesman further said that the overdraft of the Punjab government was within the limits set by State Bank and Punjab government's expenditure was within its resources. Similarly, he said, development projects of provincial assembly members were also in progress and no such scheme had been stopped. He said that revised development budget for 2008-09 was Rs 155 billion and the utilisation rate was 95 percent, which was a record in the history of the province.
The spokesman further said that no proposal to slash development budget was under consideration and hopefully more funds would be spent under annual development programme by the end of current fiscal year as compared to the previous year.

Copyright Business Recorder, 2010

Comments

Comments are closed.