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GP Fund claims go up to Rs. 500 Cr, financial crunch worsens 1/17/2015 12:10:32 AM Bashir Assad Early Times Report jammu, Jan16: As the uncertainty over government formation looms large, the state of Jammu and Kashmir is facing unprecedented financial crunch. According to latest figures being compiled by the state government treasuries GP Fund claims of state government employees pending in the treasuries have piled upto Rs. 5 hundred crores, the highest ever in the history of the state. Senior officials in the Finance Department told Early Times on Friday that the treasuries have dried up. Pending bills include salary bills, GP Fund withdrawal bills, works bills and even the old age pension bills. He said that the state is reeling under serious financial crisis. He said that it is for the first time that GPFund withdrawals have piled up to around Rs. 5 hundred crores. Sources said the salaries of the state government employees are managed through local receipts. He said the central government has not released the instalment of the state plan. The official said that work on developmental projects across the state under state plan has come to a grinding halt owing to the non availability of funds. "The executing agencies don't have money to clear the bills" the official said. "Liabilities at the moment are up to 2100. Developmental projects being executed by the Economic Reconstruction Agency ERA under ADB funding is what we have in the name of development activities at their moment, the official said. Crores which include the GP Fund claims also" the official said.   Share This News with Your Friends on Social Network     Comment on this Story

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