KP govt takes over Rs6 billion assets of textbook board: report

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has taken over the Rs6 billion assets of the provincial textbook board which may threaten the distribution of the text books across the province on time, reported a local English daily.

However, the KP govt has left Rs500 million in the board’s bank accounts for the necessary expenditure.

According to the report, these assets have been gathered by the board ever since One Unit was dissolved in 1970, after which the NWFP Text Book Board was formed which initially got Rs1.7 million, that went up to Rs6.5 billion in the next around 50 years.

Interest generated by the seized funds amounted to Rs400-Rs500 million per annum, according to the reports, an amount which helps the board carry its day-to-day affairs. Administration and development expenditure of the company alone cost close to Rs. 200 million per annum.