PESHAWAR: Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Jhagra Tuesday said that no new tax was introduced in provincial budget 2018-19, rather changes were proposed in tax schedule and some new sectors brought under tax net.
Addressing the post budget press conference here, he said it was difficult for the government not to impose new tax, but it took the decision and brought some sectors under tax net to improve the financial situation.
He said that some 6500 people would get employment opportunities due to the budget incentives, adding that 35,000 would get job indirectly while 6500 directly.
He said PTI government continued to give priority to education and health and allocate maximum amount in this budget.
Speaking on the occasion Secretary Finance Shakil Qadir said that as many as 12,950 people got jobs last year while this year 6,584 opportunities would be created. Similarly, 35,000 youth would be given soft loans with an amount of Rs. 5 billion.
He said that the provincial government would try to get its royalty from the federal government under the head of net hydel profit by applying AJN Qazi formula to increase net hydel profit.
The Secretary added that the federal government would pay Rs 43.80 billion under the head of net hydel profit along with Rs 21.40 billion outstanding amount.
He said that during fiscal year 2015-16 the federation paid Rs 35 billion, Rs 22 billion in 2016-17 and Rs 42 billion in 2017-18. He informed that currently there was an amount of Rs 42 billion in KP government’s account.
He said Dr Ishrat Hussain has asked for suggestions related to civil services restructuring, adding that 6,500 unnecessary posts would be abolished while the persons working against these posts would not be forced to get retirement, he made it clear.
APP