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June 7, 2017

Sindh unveils Rs1.04 trillion budget; record allocation for health, education

KARACHI: Breaking with tradition, Sindh chief minister spoke about the electricity crisis...

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KP govt unveils Rs603 billion tax free budget

KP govt unveils Rs603 billion tax free budget

PESHAWAR:  The Khyber Pakhtunkhwa government on Wednesday unveiled Rs 603 billion tax free budget carrying development outlay of Rs208billion for the year 2017-18 with major focus on elimination of corruption and development of the social sector development besides announcing 10 percent increase in the salaries and pension of the government employees after merger of 2010 adhoc relief.

Provincial Finance Minister Muzafar said advocate presented the fifth budget of PTI led coalition government in the KP assembly Saturday afternoon with Speaker Asad Qaiser in the Chair.

A special meeting of the Khyber Pakthunkhwa Cabinet with Chief Minister Pervez Khatak in chair here Wednesday approved budget proposals for year 2017-18.

The KP government also announced 10 percent increase in salary and pension of the government employees after merger of the 2010 adhoc relief.

The minimum wages have been enhanced from Rs14000 to Rs.15000. The rise in salaries and pension would burden the provincial kitty with Rs16.50 billion.

The province is expected to receive Rs247.876b from the Federal Divisible Pool 2017-18, Rs.107 million as one percent share of the province in war against terror from the federal divisible pool and Rs49.806 billion as straight transfers from the federation.

The province will get Rs21.774b under head of net hydel profit and its arrears from the federal government and Rs114.535 million as arrears of the net hydel profits.

The provincial own receipts have been pitched at Rs68.31 billion for 2017-18. The current expenditure has been pitched at Rs388billion to meet the provincial expenditure to be incurred next year, he said.

The finance minister informed the house that the provincial government will generate Rs126 billion from its own sources for the development programme whereas Rs 82 billion would be met through foreign donor agencies for feeding the development programmes.

The finance minister said it is a balanced budget as the receipts and expenditures have been pitched at Rs603 billion for the year 2017-18.

The province will get 11 percent more in next year from the federal divisible pool.

However, he told the house to ensure implementation of the schemes under development outlay the province has decided to obtain Rs10 billion internal loan.

The province also expected to generate Rs15 billion from the hydel development fund for financing the hydel power projects.

Similarly Rs82 expected to be received from the foreign project assistance.

The finance minister informed that Rs3.63 billion would be generated from the hydel power stations setup by the KP government in 2017-18 besides the province will obtain Rs45.21 billion from the tax and non tax receipts during next fiscall, which also included Rs12.65 billiion from service on the general sales tax.

The province will secure Rs24.68 billion from the oil and gas royalty deposits of the southern districts which is 43 percent more than the outgoing fiscal.

The finance minister announced that the government has proposed to exempt government employees from Grade-1 to Grade-5 from house rent deduction while rate of the daily allowance was being increased to 60 percent.

The allowance of the Urdali is increased from Rs12000 to Rs14000.

Similarly expenditures incurred on shifting and burial rites of the dead body were being increased to Rs4800 and Rs15000 respectively.

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