KARACHI, April 11: The town municipal administration of Saddar is faced with a serious financial crisis because of delay in release of funds by the provincial and the city governments.

Saddar Town Nazim Farooq Faria has warned that if funds are not released timely by the provincial and city governments, the developmental activity in the town will be badly affected.

At a meeting attended by the town officials, including TMO Khalid Mehmud Sheikh and TO Finance Raza Abass Rizvi, the nazim asked them to devise a mechanism to raise the revenue sources of the town. The meeting also discussed the revenue proposals for the next financial year.

The nazim emphasized the need of accelerating the recovery drive. He said, "If we failed to overcome the financial crisis the development works would be adversely affected." He said if the situation remained unchanged the town administration would be unable to pay salaries to its employees, clear the bills of contractors and payment of POL dues.