KP unveils Rs 648 bln tax free surplus budget for current fiscal year

KP unveils Rs 648 bln tax free surplus budget for current fiscal year

The Khyber Pakhtunkhwa tax free surplus budget for current fiscal year with a total outlay of six hundred and forty-eight billion rupees was announced in Peshawar this evening.

Presenting the budget in the provincial assembly, Finance Minister Taimur Saleem Jhagra said the province will receive four hundred and twenty-six billion rupees from the federal divisible pool, twenty-three billion rupees as gas royalty, twenty-nine billion rupees as net hydel profit and thirty-six billion rupees as arrears of the net profit.

The province own receipts have been estimated at one hundred and twelve billion rupees.

The Finance Minister said the main focus of the budget is on promotion of education and over one hundred and sixty-seven billion rupees have been allocated for this purpose.

Referring to the law and order situation, he said terrorism in the province has reduced by eighty-five percent and kidnapping for ransom ninety percent.

New police stations will be constructed besides extending traffic police warden system to Mardan, Swat and Abbottabad.

He said five billion rupees will be provided as interest free loan to youth to start their own business.

Thirty-nine point six billion rupees have been proposed for communication sector with main focus on completion of Rapid Bus Transit Service, Peshawar. Swat Motorway will also be completed this year.

The Finance Minister said six point five billion rupees has been proposed for development of forestry and Billion Tree Tsunami Project will be further expanded.

He said fourteen billion rupees will be spent on social welfare, women development, special education and information technology.

Three point five billion rupees have been proposed to promote sports and tourism in the province.

Earlier, the cabinet in its meeting in Peshawar approved the budget . Chief Minister Mehmood Khan presided.

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