Khyber Pakhtunkhwa presents Rs1.18 trillion budget

By: News Desk      Published: 05:46 PM, 18 Jun, 2021
Khyber Pakhtunkhwa presents Rs1.18 trillion budget

The government of Khyber Pakhtunkhwa (KP) allocated over Rs316 billion for development projects in the budget presented for the financial year, 2021-22 on Friday, the total outlay of which is Rs1.18 trillion, reported 24NewsHD TV channel.

The provincial government has reserved over Rs250 billion for the settled districts while Rs66 billion for those situated in the tribal areas.

When it comes to uplift projects, the largest amount of over Rs48 billion has been allocated for the development of road infrastructure in the province.

Similarly, over Rs20 billion have been earmarked in the budget for primary and secondary education while Rs24 billion for the health sector.

Likewise, Rs42 billion has been set aside for multi-sector development while over Rs17 billion for the water supply projects.

More than Rs12 billion have been earmarked in the budget for urban development while Rs17 billion for sports and tourism sectors.

Similarly, the budget has given approval to 1, 879 ongoing and 444 new development schemes.

The KP government has suggested that its share in the development projects will be Rs227 billion while Rs89 billion will flow from the foreign countries in aid.

There is a proposal in the budget to reserve Rs440 million for the development projects to be completed under the public-private partnership.

The budget document further tells that the provincial government will borrow Rs72 billion in loan in the current financial year and Rs16 billion in foreign aid.

Furthermore, 60 development projects will be launched with the aid and loans borrowed from foreign countries.

Rs34 billion will be borrowed from IDA in loan while Rs33 billion from the Asian Development Bank.

Kamran Khan Bangash, Special Assistant to KP Chief Minister (CM) Mahmood Khan, said earlier the CM chaired a provincial cabinet meeting at the end of which he signed a ‘pro-poor’ budget document.

Bangash further said that in the light of the vision of Prime Minister Imran Khan’s vision, over Rs1100 worth billion was presented.

He claimed that the budget the PTI government had presented today was unique in the province’s entire history. “No new tax has been levied in the money bill in order to facilitate the people, especially the business community,” he added.

Categories : Pakistan