KPK Struggles Financially as Federal Dues Remain Unpaid; PCB Lease Adds to Provincial Woes

musarrat ullah jan -

 

 

Peshawar ,  Amid mounting financial woes for Khyber Pakhtunkhwa (KPK), the provincial government grapples with unpaid federal dues exceeding 515 billion rupees. The backlog encompasses electricity royalties and assorted collections, exerting a profound strain on KPK's budgetary framework.

Compounding the fiscal strain, the federal government's failure to fulfill its financial obligations has prompted a reduction in KPK's share of the NFC award, resulting in a staggering loss of 62 billion rupees within the initial five months alone. Tribal districts, bearing the brunt of this shortfall, find themselves plunged into an exacerbated financial crisis.

While KPK contends with this fiscal quagmire, the provincial government faces another setback stemming from the Pakistan Cricket Board (PCB). Despite the PCB's substantial revenue stream, its contribution to the provincial coffers remains lackluster, epitomized by the nominal lease payments for the Abbottabad Cricket Stadium.

 The stadium, a pivotal venue hosting England and Wales' cricket seasons, sees a mere Rs 7,000 annual lease payment from the PCB, with no payments made since 2016 and contract renewal obligations overlooked.

The precarious financial state of the KPK government jeopardizes the province's development trajectory, particularly in tribal districts. With the PCB's lease agreement contributing to the financial strain, calls intensify for the termination of the Abbottabad Cricket Stadium contract.

 Sporting communities advocate for greater accountability and assert that the stadium, leased for over two decades, must be managed for the province's benefit.

In the throes of this financial crisis, swift action is imperative to safeguard KPK's economic stability and foster sustainable development, while ensuring equitable contributions from revenue-generating entities like the PCB.

#KPKNow #FinancialCrunch #SportsNews #AbbottabadStadium #PCBRevenue #MojoReporting #KPSports #FinancialTragedy #Debt

 

Comments

Post a Comment

Popular posts from this blog

Govt urge open wedding halls in KP, owners

musarrat ullah jan -
    PESHAWAR, (kikxNow) Representatives of Wedding Halls Association Khyber Pakhtunkhawa (WHA-KP) expressed their regret over still closure of wedding halls and demanded of the government to open halls. Speaking at a news press conference here at Peshawar Press Club (PPC) on Tuesday, president of WHA Khalid Ayub said that livelihood of hundreds of thousands workers were associated those wedding halls but it depends of their running business of marriages in the concerned halls. He said that there were 120 registered and 170 unregistered wedding halls in the provincial metropolis (Peshawar) while in the province there approximately 600 marriage halls, which were closed for four months due to COVID-19. Accompanied Arbab Farooq, Rahat Akbar and others, the president said that as long as the lockdown had been clamped by the government, the wedding halls were completely locked, resulting loss of Rs2.5billions across only in head of expenditures.   “As per our capacity, we could g
Read more

Demand for an inquiry into the contracts and contracts awarded in the previous regime

musarrat ullah jan -
  Constituencies associated with sports appealed to the caretaker chief minister including Governor Ghulam Ali to take notice. PESHAWAR ... The circles related to sports have demanded an inquiry into the various contracts given in the sports sector during the PTI regime and have said that a transparent inquiry should be made into all the contracts given by the Provincial Sports Directorate of Khyber Pakhtunkhwa. Similarly, the contracts given for the purchase of sports equipment, including the hockey grounds built in the 1000 sports facilities project, including the squash courts built in various colleges, should also be checked so that not only the element of transparency is brought out, they also made the contract in the form of color. Action should also be taken against the contractor because most of the projects taken only for their own benefit have become non-standard which the previous political rulers did not pay attention to. Due to this reason, the officials of sports di
Read more

Mohmand Bajaur Aman Cycle Race Promotes Peace and Local Talent

musarrat ullah jan -
    The Mohmand Bajaur Aman Cycle Race, aimed at spreading the message of peace, is set to take place on November 17, 18, and 19. Cyclists hailing from all four provinces and Islamabad are gearing up for the three-day championship, with participation from various teams, including those from Pakistan Army, Higher Education Commission, WAPDA, and Railway.   The event, under the watchful eye of technical officials, boasts a distinguished lineup, featuring Colonel Retd Jahanzeb Niazi from Balochistan, Gul Muhammad Kakar from Khyber Pakhtunkhwa, Nasir Khan Mohmand, and Amjad Nawaz Khan from WAPDA. Further, key figures such as Mumtaz , Secretary Waqar Ali from Punjab, and representatives from Sindh, Kaleem Awan Railway, Haider Ali, and Abdul Aziz are actively involved.   Organized by Pakistan Army's 22nd Brigade Mohmand and facilitated by Moazzam Claire and Khawaja Idris Haider, the race will span from Ghulnai to Mammadghat, then to Bajaur, Cadet College, and back. On Novembe
Read more