Gilgit-Baltistan, Pakistan: The Governor of Gilgit and Baltistan, Syed Mehdi Shah, has recently highlighted the financial crisis in the region and reached out to the federal government of Pakistan for financial aid and support, said reports.
As per the recent updates, Governor Syed Mehdi Shah also held a meeting with Federal Minister Ahsan Iqbal on Wednesday and communicated the serious and adverse financial crisis that the region of Gilgit-Baltistan government was facing.
In addition, according to a press release, the governor requested and reached out to the federal minister to release monetary funds for PSDP projects along with annual grants of the GB government.
The sources have stated that the Federal government of the country did not issue the annual financial development grant for Gilgit and Baltistan as the region depends largely on the funds and grants of the federal government.
Governor Syed Mehdi Shah has also extended his request to the federal minister to release a grant of Rs 500 million for the endowment funds of Baltistan University.
For his part, Federal Minister Ahsan Iqbal has noted, “He and The Federal Government of Pakistan would try the best to get the released amount for the funds”.
“The region of Gilgit and Baltistan is facing a severe condition amid the current financial crisis along with a shortage of wheat in the country, which led to the rise in its prices and forced the Gilgit-Baltistan government to purchase less wheat, resulting in the need for additional funds to provide adequate quantity of wheat for the people”, said sources.
The current situation in the region has triggered weeks of anger because the food shortage and increased inflation turned into massive anti-government demonstrations and acted in Pakistan-occupied Kashmir along with illegally held G-B.
“The financial crisis has led the People areas around the regions nearly all parts and territories of the occupied regions by Pakistan blocked highways and conducted protests and burnt tyres to convey their anger for the government in Pakistan”, noted Dawn.
In the end, Pakistan is going through an unprecedented economic crisis, which has essentially manifested in the form of a sudden shortage of flour prices. Government depots that provide subsidized wheat to citizens have been locked.