Sayed Zeeshan
PESHAWAR: The Khyber Pakhtunkhwa government has prepared a PKR 1654 billion budget for the fiscal year 2024-25. The estimated expenditure for ongoing and development expenses is PKR 1456 billion, while the estimated revenue is PKR 1754 billion.
Budget Allocation Breakdown
The budget allocates PKR 1300 billion for ongoing expenses and PKR 300 billion for development. It includes PKR 600 billion for employee salaries and PKR 145 billion for pensions of retired employees.
Digital Budget Release
The provincial government has released a digital copy of the budget. It proposes PKR 70 billion for the health department, PKR 250 billion for primary and secondary education, and PKR 10 billion each for higher education, local government, and C&W. Additionally, it recommends PKR 135 billion for the Annual Development Program (ADP) and PKR 30 billion for ADP-I.
Budget Presentation
The budget for 2024-25 will be presented in the provincial assembly by Provincial Minister for Law and Finance, Aftab Alam. Sources indicate PKR 28 billion will be allocated for health cards, while subsidies of up to PKR 2.5 billion may be provided for the BRT.
Tax Amendments and Allocations
Sources suggest amending existing taxes instead of imposing new ones. It is proposed to reduce various taxes on land transactions from 6% to 3%. Funds will be allocated to establish a separate company for minerals, with 30% of the revenue going to the province.
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New Proposals and Projects
The Treasury Department proposes imposing excise duty on companies purchasing tobacco in the province. Instead of new projects, 90% of development funds are proposed for ongoing projects. Additionally, more than PKR 10 billion may be allocated for loans and other matters on easy terms for young people.
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