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Balochistan Government faces severe financial crisis in history

QUETTA: The Provincial Government has been plunged into a severe financial crisis as the provincial departments are unable to release salaries and pensions after having empty treasury.

Bank Accounts of all provincial departments had been freezed by the provincial government and funds for development projects are said to be halted to reprieve the province from severe financial crisis in provincial history.

The Provincial Government has been holding Federal Government responsible for incumbent financial woes due to major and unjustified cuts from provincial development and due funds.

“The Balochistan Government has been looking towards State Bank of Pakistan for loans to fill the financial gaps as majority of Provincial Accounts having zero balance and Government cheques are being bounced.” Sources in Finance Department said.

Secretary Finance Qamar Masood corroborated that the provincial government has been facing severed financial crisis but the Salaries and Pensions will be released on time,

“We have been barring financial woes due to Federal Government Cut of rupees six billions on Balochistan Gas Development Surcharge while total we have been remained deprive of total 18 billion rupees from center.” Secretary Finance added.

Finance Department has halted funds for development projects in the province which could affect provincial development ratio already downtrodden as compare with other provinces.

A source in Finance Department seeking anonymity confirmed that Additional Secretary Finance Riaz Baloch has reached in Islamabad to discuss Provincial Financial Crisis with the Federal.

Balochistan government led by former Chief Minister Qudus Bizenjo was yelling regarding center injustices with people of Balochistan from past five months and he alleged that the PML N Government in center deliberately stealing our rights and utilizing our funds in central Punjab.

Senior expert on Financial Affairs and former Secretary Finance Mehfooz Ali Khan said, not only Balochistan but the federal also facing financial crisis and they have no other option but to take further loan from World Bank and IMF.

“The Provincial Government had tables Balochistan’s annual budget with the deficit of 61 billion rupees, the next provincial government in Balochistan after election will have to face financial crisis.” Mehfooz Ali Khan predicted.

Source: bexpress.com.pk
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