Finance Minister Senator Ishaq Dar has approved release of Rs 1,292.549 million incentive grant for immediate apportionment among the provinces for the July-September quarter of current fiscal year 2015-16. As approved, the Punjab will receive Rs 271.714 million, Sindh Rs 204.772 million, Khyber Pakhtunkhwa Rs 313.680 million while Balochistan's share is Rs 502.383 million.
It may be recalled that the Council of Common Interests on July 31, 2013 had decided that the provinces will be allowed rate of return on their surpluses at the rate of latest T-Bills rate, maintained for a minimum of three months.
In accordance with the decision, the incentive grant is released to the provinces on quarterly basis.
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