Sindh to unveil Rs688b budget
Finance officials say deficit likely to reach Rs10 billion.
Expected funds: Rs1b each have been earmarked for Lyari Expressway, Karachi Circular Railway, K-4 and S-III projects. DESIGN-FAIZAN DAWOOD/FILE
KARACHI:
The Sindh government will present its budget worth Rs688 billion for the year 2014-2015 today (Friday).
Officials in the finance department said that the budget deficit is likely to reach around Rs10 billion and the government is expected to increase salaries and pensions of government employees by 10 to 15 per cent.
In the upcoming budget, the government has decreased allocation for development schemes. The development schemes will get Rs215 billion, which includes Rs168 billion for provincial annual development funds. A total of Rs47 billion will be received from the federal government. This allocation is around Rs14 billion less than the total development expenditure of 2013-2014, which was Rs229 billion. Non-development expenditure may reach up to Rs475 billion; Rs89 billion more than the current year.
According to sources privy to the development, the chief minister may announce 15,000 additional jobs in the police, education and health departments. “Around Rs6 billion are being allocated for new jobs,” said an official, adding that around 3,000 schemes have been planned, out of which 63 per cent are ongoing. In the education sector, Rs122 billion have been estimated for non-development expenditure.
Given the worsening law and order, the government has allocated Rs55 billion to the department, Rs46 million will be given to the police and Rs9 billion to the Rangers and Frontier Constabulary. For newly established universities, Rs5 billion have been allocated as special grant. The districts have been allocated Rs12 billion, while Rs1 billion each have been earmarked for Lyari Expressway, Karachi Circular Railway, K-4 and S-III project. The Karachi Metropolitan Corporation and other district municipal corporations will be given Rs6 billion, while Rs5 billion are likely to be allocated to the Karachi Water and Sewerage Board to clear the outstanding dues it owes to K-Electric and other utility companies.
Revenues
The Sindh government has estimated to get Rs460 billion from the federal government as total revenue receipt from the National Finance Commission Award, Rs10 billion from the defunct Octroi tax and Rs15 billion as federal grants. Meanwhile, the provincial government has estimated to acquire Rs150 billion from its own taxes and Rs20 billion from its various investments.
Published in The Express Tribune, June 13th, 2014.
The Sindh government will present its budget worth Rs688 billion for the year 2014-2015 today (Friday).
Officials in the finance department said that the budget deficit is likely to reach around Rs10 billion and the government is expected to increase salaries and pensions of government employees by 10 to 15 per cent.
In the upcoming budget, the government has decreased allocation for development schemes. The development schemes will get Rs215 billion, which includes Rs168 billion for provincial annual development funds. A total of Rs47 billion will be received from the federal government. This allocation is around Rs14 billion less than the total development expenditure of 2013-2014, which was Rs229 billion. Non-development expenditure may reach up to Rs475 billion; Rs89 billion more than the current year.
According to sources privy to the development, the chief minister may announce 15,000 additional jobs in the police, education and health departments. “Around Rs6 billion are being allocated for new jobs,” said an official, adding that around 3,000 schemes have been planned, out of which 63 per cent are ongoing. In the education sector, Rs122 billion have been estimated for non-development expenditure.
Given the worsening law and order, the government has allocated Rs55 billion to the department, Rs46 million will be given to the police and Rs9 billion to the Rangers and Frontier Constabulary. For newly established universities, Rs5 billion have been allocated as special grant. The districts have been allocated Rs12 billion, while Rs1 billion each have been earmarked for Lyari Expressway, Karachi Circular Railway, K-4 and S-III project. The Karachi Metropolitan Corporation and other district municipal corporations will be given Rs6 billion, while Rs5 billion are likely to be allocated to the Karachi Water and Sewerage Board to clear the outstanding dues it owes to K-Electric and other utility companies.
Revenues
The Sindh government has estimated to get Rs460 billion from the federal government as total revenue receipt from the National Finance Commission Award, Rs10 billion from the defunct Octroi tax and Rs15 billion as federal grants. Meanwhile, the provincial government has estimated to acquire Rs150 billion from its own taxes and Rs20 billion from its various investments.
Published in The Express Tribune, June 13th, 2014.