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AJK govt presents Rs163.7b budget for FY22-23

Updated 26 Jun, 2022
<p>The AJK government unveiled a Rs163.7 billion budget for the next fiscal year on Saturday. Source: Radio Pakistan</p>

The AJK government unveiled a Rs163.7 billion budget for the next fiscal year on Saturday. Source: Radio Pakistan

MUZAFFARABAD: The Azad Jammu and Kashmir (AJK) government on Saturday presented its budget for the fiscal year 2022-23 with a total volume of Rs163.7 billion, out of which Rs28.5 billion have been allocated for the annual development programme (ADP).

Minister for Finance Abdul Majid Khan presented the budget for the next fiscal year and revised the estimates for the current fiscal year in the legislative assembly in the absence of opposition members who boycotted the session and protested in front of the building against the government’s policies.

The estimates for recurring expenditures for the next fiscal year have been shown to be Rs135.2 billion compared to Rs112. 9 billion, the revised estimates for the current fiscal year. Rs28.5 billion have also been allocated for development expenditures compared to revised estimates of Rs22.8 billion for the current fiscal year.

The total income from revenue for the next fiscal year has been estimated at Rs36.5 billion, including Rs25.89 billion from income tax and Rs10.61 billion in the head of other taxes. The government will receive Rs74.32 billion in the head of variable grants, Rs25.13 billion in the head of state revenue, Rs700 million in the head of water use charges, and Rs700 million as capital receipts (loan and advances).

The minister, while elaborating the salient features of the budget, said that 62 percent of funds in ADP have been allocated for 389 running development schemes while 38 percent have been allocated for 263 new projects in the next fiscal year, and 107 running projects would be completed as well.

He told the house that 19 percent of funds in ADP in the coming fiscal budget had been allocated for the social sector, 12 percent for the production sector, and 69 percent for infrastructure development.

The minister announced a 15 percent disparity allowance and 15 percent ad hoc allowance on new pay scales of 2022 for government employees and a 15 percent rise in pensions of retired government employees.

In the ADP for the next fiscal year, preference has been given to the communication department with the highest allocation of Rs12 billion while Rs3.3 billion have been allocated for housing and physical planning.

The finance minister said that Rs2.17 billion have been allocated in ADP for the next fiscal year for the education department and Rs1.8 billion for the health department.