GILGIT: The Gilgit-Baltistan (G-B) budget for fiscal year 2016-17 with a total outlay of over Rs43.78 billion was presented here on Friday.
Senior Minister Akbar Taban presented the budget during the budgetary session of the Legislative Assembly, chaired by Speaker Fida Muhammad Naushad.
Of the total, Rs25.36 billion has been spared as non-development expenditure while Rs12.38 billion has been set aside for development. This excludes Rs6.4 billion given in food subsidy by the federal government and Rs2.5 billion for PSDP projects.
“Keeping the significance of education, we have allocated about Rs1 billion which is 8% of the total budget,” Taban said, adding the amount will be spent on 73 ongoing and 42 new projects during the fiscal year.
Under PSDP projects, a road from Gilgit to the Naltar air force base will be constructed, besides the construction of a hotel near Attabad Lake to boost tourism. Similarly, establishment of a medical and a technical college each have also been included in the PSDP projects.
In the power sector, Rs4 billion have been allocated for new and on-going projects. The on-going projects are likely to generate 79MW electricity.
Published in The Express Tribune, June 25th, 2016.