Financial crisis deepens

GILGIT, Dec 8: The government of Gilgit-Baltistan is in hot waters and near the brink of bankruptcy, unable even to pay salaries to its employees for the month of December. Sources said that the government needed an amount of 8.5 million to pay the monthly salaries each month. However, at the moment its reserves have plummeted to Rs90 million. On the other hand, payment to pensioners has already been stopped, creating panic among thousands of families. It ahs also been learnt that hundreds of contractual employees working with Public Works Department (PWD) may also not get their salaries. The prime minister during his recent visit to the region ahs announced Rs2 billion special funds but so far there is no possibility of its release. If the GB government fails to receive the funds within a couple of months, the federal government will go to polls and it would not be in the hope of getting the amount.]]>

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