KPK govt announces tax-free budget 2015-16

KPK govt announces tax-free budget 2015-16

PESHAWAR, Pakistan: The Pakistan Tehreek-e-Insaf (PTI)-led Khyber Pakhtunkhwa government has presented its tax-free budget for fiscal year 2015-16 with an outlay of Rs487.88 billion.

The budged was announced by the Khyber Pakhtunkhwa Finance Minister Muzaffar Said in the provincial assembly on Monday, saying it is a balanced budget.

The finance minister said that Rs174.88 billion have been allocated for the annual development programme while 911 ongoing development schemes will be completed and 614 new schemes initiated.

The minister said that Rs97.54 billion have been proposed for education sector reflecting 21 percent increase while Rs29.95 billion have been proposed for health sector.

Muzaffar Said said that special attention is being given to improve law and order in the province and Rs32.74 billion have proposed for police department to improve its capability.

The Khyber Pakhtunkhwa finance minister said that special measures will be taken for welfare of poor women and children besides giving stipend to aged and special people.

The finance minister announced 10 percent increase in the salaries and pension of the provincial government employees. He also announced up-gradation of government employees from BPS 1 to 15.

In addition, he said that the province will receive over Rs250.89 billion from federal divisible pool and Rs30.14 billion for the war on terror. He said that the federal government will provide Rs68 billion as hydel net profit and arrear of electricity and Rs19.41 billion as royalty of oil and gas.

The minister said that the province owned receipts have been estimated as Rs54.42 billion.

Earlier, the Khyber Pakhtunkhwa cabinet approved budgetary proposals for fiscal year 2015-16.

Earlier in the day, the Azad Jammu and Kashmir (AJK) government also announced its budget 2015-16 with a total outlay of over Rs68 billion.

The AJK Finance Minister Chaudhry Latif Akbar presented the budget for the next financial year in the AJK Legislative Assembly in Muzaffarabad.

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