Provincial Minister for Finance, Engineer Mohammad Hamayun Khan presented the budget in a specially convened session of the provincial assembly.
The outlay for the budget was Rs. 249.15 billion of which Rs. 18 billion has been allocated for counter terrorism.
The allocation for the annual development programme is Rs. 85.14 billion consisting of 1035 projects and 32% of the funds from the programme would be spent on social development. The province is expected to receive Rs. 13 billion in the form of royalty on oil and gas.
The province would generate Rs 149 billion from federal taxes while a further Rs 7 billion would be generated from provincial taxes.
This year a huge amount of Rs.87.706 billion has been reflected separately. The mentioned amount is shown for seeking credit from commercial banks and other financial institutions, which is neither part of the income for expenditures of the province.
The salient features of the budget for finance next financial year included a receipt of Rs.149.988 billion from federal government in head of federal taxes while another amount of Rs.18.202 billion would be provided in head of operation against miscreants and terrorists.
The provincial government will also receive a receipt of Rs.13.806 billion in head of royalty on oil and gas through straight transfers, Rs.6 billion as net profit on hydropower generation, Rs.25 billion outstanding arrears in head of net profit on electricity.
The province will generate an amount of Rs.7.349 billion from its revenue resources, Rs.10.3 billion on general sales tax on services. The hydropower stations established with the own resources of the province will generate Rs.2.115 billion, Rs,16.112 billion from foreign project assistance and another amount of Rs.727.4 million through different miscellaneous resources.
The salient features of the expenditure of Rs.249.15 billion are including a current expenditure of Rs.149 billion. The details of the expenditures are including Rs.13.12 billion (Health), Rs.18.81 billion (Police), Rs.2.34 billion (Irrigation), Rs.1.23 billion (Technical Education), Rs.2.32 billion (Works & Services), Rs.16 billion (Pension & Insurance), Rs.50.82 billion ( Salaries & other expenses of district governments), Rs.10.60 billion for payment of mark-up on loans and amount of Rs.2.50 billion for food subsidy.
The provincial minister for finance said that the resources of the province are limited and increase in them is inevitable. Therefore, he said justified expansion and tax-net and rates had been proposed.
0 comments:
Post a Comment