G-B unveils Rs116 billion budget for FY2023-24

Rs74b allocated for non-developmental expenditure, while Rs28.45 billion allocated for development expenditure

 

The Gilgit-Baltistan government on Monday announced an Rs116.15 billion budget for the next fiscal year 2023-24 in the Assembly held here on Monday.

Gilgit-Baltistan Finance Minister Javed Ali Manwa presented the budget in the House. In the budget of the new financial year, Rs74 billion allocated for non-developmental expenditure, while Rs28.45 billion allocated for development expenditure.

Rs13.70 billion proposed for subsidy on wheat. The finance minister announced a 35 percent increase in the salaries of government employees up to 16 and 30 per cent in the salaries of employees from grades 17 to 22.
He further said that more than Rs1.37billion allocated for the improvement of the health sector.

More than Rs1.57 billion allocated for education, Rs45 crore for agriculture, animal husbandry and fisheries, and Rs4.17 billion proposed for the power sector.

More than Rs24 crore have been allocated for the sector irrigation, Rs1.33 billion for physical planning and housing, Rs3.46 billion for the communication system and Rs28 crore and 53 lakh have been proposed for IT.

Earlier, the Gilgit-Baltistan cabinet meeting was held in Gilgit, and Chief Minister Khalid Khurshid presided over the meeting. The budget proposals for the next fiscal year were approved in the meeting.