GILGIT: Gilgit-Baltistan Governor Syed Mehdi Shah on Wednesday informed Federal Minister for Planning Ahsan Iqbal during a meeting about serious financial crisis the Gilgit-Baltistan government was facing and sought the release of funds by the federal government.

According to a press release, the governor requested the federal minister to release funds for PSDP projects and annual grant of the GB government.

Informed sources told Dawn that the federal government had not released the annual financial development grant of the GB as the region depends on the financial grant of the federal government.

Mr Iqbal ordered release of funds for GB development projects and promised to take immediate steps for the release of the grant by the federal government to the GB government.

The governor also requested the federal minister to order release of Rs500 million for endowment funds of Baltistan University.

Mr Iqbal assured the GB governor that he would also try to get the amount released for the funds.

The GB government meets its development and non-development expenditures through grants and funds provided by the federal government.

Wheat shortage

Meanwhile, the regions is facing serious shortage of wheat. The federal government provides Rs8 billion annually to GB to provide subsidised wheat to the area people.

However, due to increase in the wheat price across the country and GB, the GB government had to purchase less wheat which had resulted in the wheat shortage in the area as additional funds from the federal government are required to purchase the required quantity of wheat for the area people.

The GB government through letters has informed the federal government about the shortage and requested it to provide additional funds to meet the wheat requirements of the area people.

Published in Dawn, January 26th, 2023