Finance Minister discusses financial issues with AJK PM
01 January, 2014
ISLAMABAD: The Finance Minister Senator Ishaq Dar held a meeting with members of Azad Jammu and Kashmir Council to deliberate upon its financial issues at the Finance Ministry on Tuesday.
The AJ&K delegation was led by Prime Minister AJ&K Chaudhry Abdul Majeed.
The meeting was also attended by Minister-in-Charge, AJ&K Council Secretariat, Mr. Muhammad Barjees Tahir, Abdul Waheed Member of Education AJK and senior officials of AJK Government, AJK Council and Ministry of Finance.
The Finance Minister said that the Federal Government is committed to provide assistance to the AJK Government but expects it to follow the policy of austerity as espoused by the present government.
The Finance Minister said that though the revenue collection had shown a significant increase of 17% over the corresponding period last year yet the present fiscal position was burdened by huge liabilities of the past.
The Finance Minister while assuring continued federal government support, urged the AJK Council to rationalize past commitments for development projects, enhance revenue collections and limit its expenditures within the envelop of 20% of collected revenues. For revenue enhancement, the Finance Minister offered his assistance in identifying the areas and strengthening of the collection machinery.
Barjees Tahir and PM AJK assured the Finance Minister that Council will expend extra efforts in revenue generation and reducing expenditures.
They also thanked the Prime Minister for approving an extra grant of Rs.1.4 billion, on the recommendation of the Finance Minister, for meeting the deficit of the AJK Council's budget.