K-P unveils Rs529b four-month budget
PHOTO: File
The Khyber-Pakhtunkhwa caretaker cabinet greenlights a Rs529 billion budget for the forthcoming four months, spanning from November 2023 to February 2024.
The budget outlines expenses totaling Rs529.118 billion, with estimated revenues pegged at Rs450 billion, resulting in a Rs79 billion deficit.
Within this four-month financial plan, Rs112.118 billion is allocated for development, with an additional Rs71 billion earmarked for the newly merged districts.
Despite a severe financial crisis, the provincial government opted against reducing government employees’ salaries, contingent on pending payments from the federal government.
The caretaker government also decided to eliminate all the vacancies lying unfilled for three years and imposed a complete ban on the purchase of new vehicles, new recruitments, and medical treatment outside the country on government expenses.
Similarly, workshops and seminars will also not be organized officially in order to save money. The cabinet in its meeting also decided to provide funds for the Sehat Card Plus scheme so that the treatment of the needy could continue non-stop.
The cabinet sanctioned the provision of Rs30 million per month to the BRT so that it could also continue its operation.
Also read: K-P unveils Rs2.9b second quarterly budget
This was announced by Caretaker Finance Minister Ahmad Rasool Bangash during a briefing to the media after the cabinet meeting.
He said that the previous four-month budget was of Rs462.93 billion.
Last year the eight-month budget stood at Rs888 billion while this year it has been estimated at Rs992.055 billion.
In the previous budget current expenditures have been estimated at Rs350 billion while in the next budget it has been estimated at Rs417 billion.
Current expenditures have been increased due to raise in the prices of petroleum products, utility bills, sehat card and school books, said Bangash.
He added that in the next four months, Rs170 billion will be spent on the salaries of the employees and more than Rs47 billion would be spent on pensions.
“In the budget Rs50.702 billion has been allocated for the newly merged districts. For the settled districts Rs91.855 has been allocated for development while merged districts will get Rs20.263 billion ADP,” he said.
Published in The Express Tribune, October 27th, 2023.