New govt presents G-B's interim budget

GILGIT:

Adviser to the Chief Minister on Finance Muhammad Ali Akhtar on Monday presented a three-month interim budget for the fiscal year 2026-27 in the Gilgit-Baltistan Assembly, saying the government opted for an interim budget instead of a full-year financial plan.

Presenting the budget, Akhtar said the interim arrangement aims to ensure the uninterrupted functioning of government departments, continuation of public services and timely payment of salaries and allowances to government employees. He said negotiations are ongoing with the federal government over resource allocation and wheat subsidy.

According to the budget documents, the total estimated resources available for G-B during FY2026-27 stand at Rs158.54 billion, an increase of around Rs12.23 billion compared to the previous fiscal year.

A major portion of the budget depends on federal support, including a non-development grant of Rs88 billion, while the region's own non-tax revenue is estimated at about Rs6.08 billion.

The adviser said approval had been sought for Rs20.478 billion to meet expenditure during the first quarter of the fiscal year, while Rs15.225 billion had been earmarked for paying salaries and allowances to government employees.

He said Rs15 billion had been allocated for wheat subsidy to ensure the continued supply of subsidized wheat to the people, while wheat sales were expected to generate Rs3 billion in revenue. Efforts are also underway to secure additional financial support from the federal government for the subsidy.

Akhtar said the interim budget proposed an additional allocation of Rs300 million for the Health Endowment Fund to facilitate treatment of deserving patients. It also earmarked Rs25 million for tuberculosis eradication during the first quarter and Rs100 million for purchasing new ambulances.

He said Rs138 million had been allocated for the G-B Waste Management Company and Rs202 million for local government institutions to improve sanitation and municipal services across the region.

The adviser said Rs100 million had been proposed as the government's contribution under the new pension policy, Rs200 million for group insurance and Rs250 million as seed money for the General Provident Fund.