Parcel (out) (4)
'parcel out' is the definition.
(allotting is a kind of parcelling out)
This is all the clue.
(Other definitions for allot that I've seen before include "Give as a share, or a task to be done" , "Distribute, give as share" , "deal" , "Award (share, task)" , "grant" .)
'parcel out' is the definition.
(I've seen this in another clue)
This is the entire clue.
(Other definitions for mete that I've seen before include "Apportion" , "Administer or hand out" , "Dispense, give (out)" , "Measure" , "boundary" .)