New formula for fund distribution in N.As


New formula for fund distribution in N.As

Weekly Bang-e-sahar karachi Saturday, August 30, ——September 5, 2008
By A Correspondent
GILGIT: The federal government has approved a new formula for distribution of funds among the district councils and municipal committees of Gilgit-Baltistan, official sources said.
“With notification of this new formula of fund distribution, a contentious issue has been resolved for ever,” said an official of the local administration.
He said the federal government was giving Rs155 million to the region as grant-in-aid which would be distributed among the district councils and municipal committees under the formula: 50 per cent on the basis of population and 50 per cent on income basis.
Earlier, the municipal committees and district councils of Gilgit, Diamer and Baltistan had to suffer because funds allocated to them were incompatible with their population. However, now under the new formula they would get 50 per cent on the basis of their population and the rest on income basis. This new formula is acceptable to all the districts, said the official.
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