Finance ministry faces shortage of funds
ISLAMABAD – The Ministry of Finance is facing acute shortage of funds due to economic crisis of the country and annual grants of many departments and divisions are not being properly disbursed as in first six months of the fiscal year.
The Finance Department has only released less than 25 percent grants to various sports federations. According to details obtained from the Ministry of Finance, the government had announced annual grants of Rs 64.500 million for 39 different sports federations of the country, but in the first six months, the Finance Ministry, which is responsible for the disbursement of funds, has released Rs15.750 million to only 16 federations.
Out of these 39 sports federations, 23 could not even get a single penny in these first six months from their annual grants while the remaining 16 federations could only get partial funds, which are not sufficient for running their expenditures, which has impacted the sports development in the country.
Those sports federations, which could not get any amount as promised by the government under their annual grant for the year 2017-18, included Pakistan Hockey Federation, Pakistan Football Federation, Alpine Club of Pakistan, Chess Federation of Pakistan, Equestrian Federation of Pakistan, National Rifle Association of Pakistan, Pakistan Boxing Federation, Pakistan Billiard and Snooker Association, Pakistan Basketball Federation, Pakistan Bridge Federation, Pakistan Golf Federation, Pakistan Rowing Federation, Pakistan Rugby Union, Pakistan Swimming Federation.
Pakistan Squash Federation, Pakistan Sailing Federation, Pakistan Tennis Federation, Pakistan Wrestling Federation, Pakistan Wushu Federation, Ski Federation of Pakistan and Softball Federation of Pakistan.
Those sports federations, which got less than 25 percent funds out of their annual grants in these first six months, included Athletics Federation of Pakistan, Pakistan Badminton Federation, Pakistan Bodybuilding Federation, Pakistan Cycling Federation, Pakistan Baseball Federation, Pakistan Handball Federation, Pakistan Judo Federation, Pakistan Ju-Jitsu Federation, Pakistan Karate Federation, Pakistan Kabaddi Federation, Pakistan Netball Federation, Pakistan Polo Association, Pakistan Taekwondo Federation, Pakistan Tenpin Bowling Federation, Pakistan Volleyball Federation and Pakistan Weightlifting Federation.
The government also announced special grant of Rs 50.600 million to 27 sports federations to be disbursed during 2017-18, but in the first six months of the fiscal year, the government had only released Rs 13.400 million to just 10 federations while 17 federations have failed to receive a single penny in these six months.