Punjab government has estimated to get Rs 21,000 million as share of Punjab under net hydel profits from federal government in financial year 2014-15. In order to have a claim over Federal Government of net hydel profit an allocation of Rs 21,000 million has been made in Budget Estimates 2014-15 of Punjab government, sources said.
It may be noted that province of Punjab had not been receiving net hydel profits from the Federal Government since 1996-97. The sources said the Punjab government is now requesting the Federal Government to resolve the issue of payment of arrears of net hydel profit to Punjab since 2004-05 onwards in addition to regular payment of net hydel profit accruing every year.
Moreover, Federal Divisible Pool share of the province of Punjab is estimated to be Rs 804,195.607 million in FY 2014-15, compared to budget estimate of Rs 702,120.646 million in FY 2013-14, assuming a growth in tax collection of FBR by 23.5% from the RE 2013-14. As per budget document, total receipts less Food Account Receipts has been pitched at Rs 1,095,123.832 million for the FY 2014-15 as compared to Rs 919,314.576 million for BE 2013-14.
The increase in estimates of General Revenue Receipts for FY 2014-15 is mainly attributable to expected increase of 14.5% in the Federal Divisible Pool. The budgetary estimates of provincial tax receipts for FY 2014-15 have been fixed at Rs 164,680.244 million in comparison with revised estimates of Rs 111,788.994 million for FY 2013-14. For non-tax receipts, an estimate of Rs 64,197.368 million has been fixed for FY 2014-15 against budgetary estimates of Rs 43,129.872 million in FY 2013-14.
It may be recalled that federal grants, both Development and Non-Development, comprise of public sector development programs (PSDP), grants from Federal Government as well as budget support grants received from foreign development partners. The federal PSDP grants are only pass through items. These grants are released to executing agencies for implementation of Federal Development Projects. Therefore, the estimates of PSDP grants are only made part of the revised estimates. The RE for FY 2013-14 for PSDP grants is Rs 39,447.769 million against budget estimates of Rs 3,231.145 million. In FY 2013-14 total receipts were estimated at Rs 1,180,214.210 million. Revised estimate are Rs 1,153,356.207 million. For FY 2014-15, total Receipts have been pitched at Rs 1,349,404.205 million.
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