The Government of Gilgit-Baltistan finds itself grappling with severe financial challenges and has urgently appealed for disbursement of Rs. 10 billion from the federal government, well-informed sources told ProPakistani.
Sources said the GB government faces a staggering deficit of Rs. 12 billion, leaving them in dire straits. One of the most pressing concerns highlighted by insiders is the inability to cover the salaries of government employees for the month of January.
With funds running critically low, the region’s government is currently unable to fulfill its obligation of disbursing salaries for January, leaving many employees concerned about their financial well-being.
Sources added that negotiations are underway for a recovery plan, and while the federal government has acknowledged the crisis, it has pledged to provide the necessary funds by February 2024.
It is important to note that the GB government substantially relies on grants and funds provided by the federal government to meet its financial needs.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan