Finance ministry says provincial shares under NFC released fortnightly, no outstanding liabilities exist after KP CM’s accusation of stalled funds |
The Ministry of Finance said on Saturday that the federal government released provincial shares under the National Finance Commission (NFC) on a fortnightly basis, adding that “no outstanding liabilities exist in this regard”.
The statement from the ministry came a day after Khyber Pakhtunkhwa Chief Minister Sohail Afridi accused the federal government of stalling development in the merged tribal districts by not disbursing funds under the NFC resource-distribution formula for the current fiscal year.
In the statement released on Saturday, the ministry reaffirmed the federal government’s “continued commitment to ensuring timely, transparent, and sustained financial transfers” to KP under the NFC Award and beyond.
It said that under the 7th NFC Award, KP’s share was determined at 14.62 per cent of the provincial share in the divisible pool.
“In recognition of the extraordinary burden borne by the province during the war on terror, an additional one per cent of the undivided divisible pool was allocated exclusively to KP,” it said.
It further added........