Balochistan to present Rs 700bln budget 2023-24 today

QUETTA: The upcoming tax-free budget for the fiscal year 2023-24 is scheduled to present on Monday [today] in Balochistan Assembly, with a significant allocation of Rs 700 billion, ARY News reported.

According to the Treasury Department, the finance minister Engineer Zmarak Khan Achakzai will present the budget at 4 pm, the size of the budget is likely to exceed Rs 700 billion.

Moreover, the estimated revenue in the upcoming fiscal year’s budget is Rs 529.3 billion, while there is a possibility that the budget deficit will exceed Rs 120 billion. Furthermore, the developmental budget can be around Rs 200 billion.

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In a bid to boost employment opportunities, sources have revealed that a proposal has been made to create more than 5,000 jobs. Additionally, government employees may witness a significant boost in their salaries, with a proposed 30% increase under consideration.

Meanwhile, the estimated revenue from Balochistan’s resources is estimated at Rs 60.32 billion.

Sources indicate that the revenue from the NFC (National Finance Commission) Award, along with other sources, is projected to provide an estimated Rs 413 billion.

Recognizing the significance of education, the Treasury Department is likely to propose a budgetary allocation of Rs 90 billion to enhance the quality of education in Balochistan.

Additionally, measures have been suggested to prioritize peace and security, with a proposed allocation of Rs 60 billion. Likewise, the Treasury Department has proposed an allocation of Rs 50 billion to bolster the healthcare sector.