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PESHAWAR: The Khyber-Pakhtunkhwa government will present a budget of more than Rs500 billion for Fiscal Year 2016-17 at the provincial legislative assembly on Tuesday.
The government called the assembly session for 4pm when K-P Minister for Finance Muzaffar Said will present the budget. Also, the government has called for a cabinet meeting in which ministers and advisers will approve the total outlay and the finance bill. Officials close to the budget making said the total outlay was over Rs500 billion.
Development funds
Officials said the volume of the Annual Development Programme (ADP) was projected at Rs161 billion. This includes Rs125 billion for the ADP, while Rs36 billion would come from foreign project assistance. An official of the planning and development department (P&D) said the provincial finance department would set aside Rs113 billion and borrow the remaining Rs12 billion from banks.
“The finance department has already been insisting and pushing to pitch the ADP at realistic figures and not inflated estimates like the previous year which had to be slashed later on,” said the official. He added finance department was insisting for Rs75 billion as the provincial ADP, but somehow the figure escalated to Rs113 billion. Another official said the ADP was increased on the basis of an increase in K-P’s share of the Federal Tax Assignment which the finance department had already estimated.
According to the official and documents available with The Express Tribune, a total 1,516 development projects were included in the ADP of which 59 were funded through foreign project assistance. The rest would be financed from the provincial ADP.
The government has earmarked Rs33.9 billion of the ADP for districts across the province and a total of Rs80 billion for the province.
Sectore-wise
After the districts, the Pakistan Tehreek-e-Insaf (PTI)-led coalition government, like the previous year, prioritised the health and education sectors in the development portfolio. Thus, huge chunks were allocated to them under the ADP.
The health sector of the province has been allocated Rs17.4 billion, closely followed by the elementary and secondary education with Rs16.9 billion. Similarly, the higher education sector has also been allotted Rs4.7 billion. The road sector, with 330 projects, has had Rs14.5 billion set aside for it.
The local government sector has been allocated Rs9.4 billion, while authorities put Rs8.2 billion under the “multi-sectoral development head which has a total of 39 projects under it in the ADP.
The water sector has been allocated Rs7 billion and the agriculture and transport sectors have been given Rs6.2 billion and Rs6.1 billion, respectively. Ironically, the environment sector has been given the least priority. Minister for Finance Muzaffar Said could not be reached for comments.
Published in The Express Tribune, June 14th, 2016.
http://tribune.com.pk/story/1122034/big-day-khyber-pakhtunkhwa-release-budget-today/
Good to see that they're prioritizing Health and Education again
@Zibago @django @Moonlight @RealNapster @CHACHA"G"
The government called the assembly session for 4pm when K-P Minister for Finance Muzaffar Said will present the budget. Also, the government has called for a cabinet meeting in which ministers and advisers will approve the total outlay and the finance bill. Officials close to the budget making said the total outlay was over Rs500 billion.
Development funds
Officials said the volume of the Annual Development Programme (ADP) was projected at Rs161 billion. This includes Rs125 billion for the ADP, while Rs36 billion would come from foreign project assistance. An official of the planning and development department (P&D) said the provincial finance department would set aside Rs113 billion and borrow the remaining Rs12 billion from banks.
“The finance department has already been insisting and pushing to pitch the ADP at realistic figures and not inflated estimates like the previous year which had to be slashed later on,” said the official. He added finance department was insisting for Rs75 billion as the provincial ADP, but somehow the figure escalated to Rs113 billion. Another official said the ADP was increased on the basis of an increase in K-P’s share of the Federal Tax Assignment which the finance department had already estimated.
According to the official and documents available with The Express Tribune, a total 1,516 development projects were included in the ADP of which 59 were funded through foreign project assistance. The rest would be financed from the provincial ADP.
The government has earmarked Rs33.9 billion of the ADP for districts across the province and a total of Rs80 billion for the province.
Sectore-wise
After the districts, the Pakistan Tehreek-e-Insaf (PTI)-led coalition government, like the previous year, prioritised the health and education sectors in the development portfolio. Thus, huge chunks were allocated to them under the ADP.
The health sector of the province has been allocated Rs17.4 billion, closely followed by the elementary and secondary education with Rs16.9 billion. Similarly, the higher education sector has also been allotted Rs4.7 billion. The road sector, with 330 projects, has had Rs14.5 billion set aside for it.
The local government sector has been allocated Rs9.4 billion, while authorities put Rs8.2 billion under the “multi-sectoral development head which has a total of 39 projects under it in the ADP.
The water sector has been allocated Rs7 billion and the agriculture and transport sectors have been given Rs6.2 billion and Rs6.1 billion, respectively. Ironically, the environment sector has been given the least priority. Minister for Finance Muzaffar Said could not be reached for comments.
Published in The Express Tribune, June 14th, 2016.
http://tribune.com.pk/story/1122034/big-day-khyber-pakhtunkhwa-release-budget-today/
Good to see that they're prioritizing Health and Education again
@Zibago @django @Moonlight @RealNapster @CHACHA"G"
