ISLAMABAD: Finance Minister Ishaq Dar has approved Rs1,292.549 million incentive grant for immediate apportionment among provinces for the July-September quarter of financial year 2015-16.

Of the sum, Punjab will receive Rs271.714 million, Sindh Rs204.772 million, Khyber Pakhtunkhwa Rs313.680 million and Balochistan Rs502.383 million.

It may be recalled that the CCI on July 31, 2013 decided that provinces will be allowed rate of return on their surpluses at a rate of latest T-bills rate, maintained for a minimum of three months.

The incentive grant is released to the provinces on quarterly basis.