A spokesman of Punjab government has said that financial condition of Punjab government is sound. Government released development funds to the tune of Rs125 billion in six months of current fiscal year. The spokesman further stated that Punjab government has been opening each month with a large credit balance. Overdraft is accessed within legal limits due to late release of federal transfers but the same is returned during each month. He further said no new loan has been taken from State Bank by Punjab government during last two years. Further, the earlier loan is being repaid according to agreement signed with State Bank of Pakistan, he concluded.
