FBR shortfall to cost K-P Rs100b, says CM aide

PESHAWAR:

K-P Chief Minister Advisor on Finance Muzzammil Aslam said the Federal Board of Revenue (FBR) has collected Rs1,200 billion less in revenue, which will result in Khyber-Pakhtunkhwa receiving Rs100 billion less in federal transfers.

Addressing the Khyber-Pakhtunkhwa Post-Budget Conference, the CM's aide said Khyber-Pakhtunkhwa transferred Rs150 billion into the Debt Management Fund last year, which will yield Rs17 billion in annual revenue. This revenue will be the highest of any department in the province after the Khyber-Pakhtunkhwa Revenue Authority (KPRA).

Advisor Muzzammil Aslam emphasised that all departments should work on increasing revenue and strengthening monitoring and evaluation mechanisms for the betterment of the province.

He noted it is the duty of the province's approximately 700,000 employees to immediately provide relief to the population of 45 million and to do justice to their positions.

He further stressed the importance of aligning budgetary resources with grassroots needs and reiterated the government's commitment to converting financial planning into real and tangible improvements in people's lives.

Special Secretary Finance Muhammad Asif presented the key features of the budget, outlining revenue estimates, expenditure priorities, sectoral allocations, fiscal discipline, and reform initiatives included in the 2025-26 budget.

The objective of the post-budget conference was to provide a shared platform for understanding and discussion on the recently presented provincial budget – an important milestone to promote transparency, accountability, and public understanding of the budget's priorities and implications.

The conference was attended by Secretary Finance Amer Sultan Tareen, Special Secretary Budget Muhammad Asif, Special Secretary Regulation Abidullah Kakakhel, as well as secretaries of various departments, additional secretaries, deputy secretaries, budget officers, and economists.