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Monday Dec 09 2019

Provinces underspend on development, return Rs 202bn to Center

Pakistan’s four provinces transferred a cash surplus of Rs202 billion to the Center, from amongst the funds earmarked for development projects.

The amount was provided in the first quarter of the current fiscal year. According to the website of the ministry of finance, the revenue surplus accumulated as the provincial governments spent less on various development and infrastructure projects within their provinces.

While the surplus in the national kitty will improve Pakistan’s economic indicators, the underspending also reveals that this year's economic activity remained slow and development projects were a low priority.

Of the four provinces, Punjab doled out the largest refund to the Center, handing over a cash surplus of Rs75.4 billion out of its total revenue of Rs366 billion.

The Khyber Pakhtunkhwa government could not spend almost Rs54 billion from its available funds of Rs141 billion.

Balochistan sent back Rs37.3 billion out of its total revenue of Rs86 billion.

While, Sindh provided the lowest cash back of Rs35.5 billion of its revenue of Rs 199 billion.