Minister for Kashmir Affairs and Gilgit Baltistan Chaudhary Barjees Tahir presented the budget document, which was not shared with journalists. The press release handed over to the media said the total revenue collection was estimated at Rs12.097 billion of which Rs11.960 billion would be generated through various taxes while the rest would be pooled through non-tax revenues including rent of properties left by the Maharajas of Kashmir in Rawalpindi, Lahore and Jhelum.
The budget, which had been delayed for over three months, proposed that a deficit of Rs3.858 billion would be met through a grant from the Government of Pakistan and savings by cutting unnecessary expenditures.
According to proposed expenditures, some 80 per cent of the tax revenue collection would be spent by the AJK government while the remaining 20 per cent will be used by the council secretariat. A total of Rs2.137 billion has been earmarked for development works.
An amount of Rs315 million has been allocated for the council’s members in the head of development expenditure in addition to an amount of Rs600 million which would be given to the council’s members for development schemes. Moreover, each member will get an additional amount of Rs100 million for development projects. An amount of Rs687 million has been earmarked for construction of the Muzaffarabad-Pir Chinasi Road to help promote tourism in the region.
Prime Minister Nawaz Sharif, who is also the council’s chairman, will approve the budget in a meeting scheduled on October 20.
Published in The Express Tribune, October 17th, 2014.
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