PESHAWAR, March 27: The NWFP revenue receipts and expenditure grew by 63 per cent and 16 per cent, respectively, during the first six months of the current financial year as compared to the corresponding period of the last financial year, according to official sources.

The province recorded total revenue receipts of Rs18.5 billion during July-December of fiscal 2002-03, as against Rs11.4 billion during the same period of the last financial year, showing a rise of Rs7.1 billion.

Similarly, NWFP spent Rs13.6 billion during the first six months of 2002-03, as against Rs11.7 billion, showing an increase of Rs1.9 billion.

The growth recorded under the revenue receipts and expenditure has been attributed to the NWFP government’s loan agreement with the World Bank, thereunder the province was released Rs5.7 billion loan tranche and had to improve social services — health and education — for which the province had to spent more, experiencing increase in the current expenditure, the sources said.

Apart from getting Rs5.7 billion loan tranche from the World Bank, the provincial revenue receipts recorded improvement owing to improved flow of direct federal transfers.

The province, according to sources, received Rs9.2 billion under the direct federal transfers during the first half of the current fiscal year, as against Rs7.1 billion in the same period of the last financial year, reflecting an improvement by over Rs2 billion.

Though the province recorded improvement in receipts in comparison with the corresponding period of the last financial year, it recorded over Rs3 billion shortfall in comparison with the amount it should have raised on proportionate basis during the first six months of the current fiscal year. The province was supposed to record Rs22 billion receipts during the first half of the current financial year on proportionate basis.

“The shortfall would have been more than Rs7.7 billion had the provincial government not received the structural adjustment credit loan of Rs5.7 billion and special funding of Rs488 million for Khushhal Pakistan Programme,” contained the NWFP government’s six monthly review of the provincial reforms programme.

Against Rs3.6 billion current expenditure recorded in the education sector during the first half of the last financial year, this time round expenditure stood at Rs4.6 billion.

Whereas, health sector’s current expenditure rose from Rs874 million in the first half of 2001-02 to Rs1.19 billion during the same period in the financial year 2002-03.

In comparison with total development expenditure of Rs1.13 billion recorded during the first half, this time round development expenses stood at Rs3.58 billion.

The increase in development expenditure, the sources said, had been mainly because of the provincial government spending spree in the rural development sector and execution of the Khushhal Pakistan Programme.

The province spent Rs2.9 billion on rural development during the first six months, as against Rs555 million. Expenditure growth under the KPP was mainly because of the utilization of funds which were carried forward to the current financial year after getting lapsed in the last financial year.