PESHAWAR, June 27: NWFP Finance Minister Farid Rehman will on Friday present a surplus provincial government budget, increasingly relying on the not-yet-finalized Structural Adjustment Credit Facility of the World Bank for the 2002-03 financial year.

According to information gathered from different quarters, the government is, apparently, depending chiefly on the World Bank credit facility, specifying an all-time high amount for debt-servicing as well as for the development works in its budget for the new fiscal year.

“Though a MoU with the World Bank has not yet been signed, the government has been asked to project the likely proceeds from SAC in the next financial year’s budget,” said government functionaries.

With the help of a multi-billion-rupee SAC facility and pitching the net hydel profit share of the province at a place 11% over and above the outgoing financial year’s benchmark, the government’s total revenue receipts for the 2002-03 are likely to be projected at around Rs50bn.

The federal government would transfer over Rs22.133bn to the NWFP from its share under the Federal Divisible Pool (FDP). Similarly, an amount of Rs3.898bn has been projected to be transferred to the province from the federal government as special grant (subvention).