KP unveils over Rs600 bn budget for fiscal year 2017-18
PESHAWAR: The Khyber Pakhtunkhwa government on Wednesday announced the annual budget for the fiscal year 2017-2018 amounting to Rs 603 billion.
Presenting the budget in the provincial assembly, Finance Minister Muzafar Said Advocate said the province will receive Rs326 bn from the federal divisible pool which is eleven percent more than the amount received in the outgoing fiscal year.
The finance minister said work on Rapid Bus Transit Project Peshawar will be launched in August this year. It will be completed at cost of Rs53 bn in eight months.
He said four economic zones in Nowshera, Dera Ismail Khan, Karak and Mansehra each will be established under China Pakistan Economic Corridor (CPEC). The federal government has approved a railway line between Kohat and Dera Ismail Khan, and construction of Chakdara-Gilgit road via Chitral under CPEC.
Muzafar Said Advocate said twenty eight billion rupees will be provided to district governments in the new financial year for initiating development schemes.
He announced ten percent increase in pay and pension of the government servants.
KP will also get more than Rs39 bn from the federal government for the war on terror. This is also eleven percent more that the amount received in the financial year 2016-17.
It will receive over Rs24 bn as royalty of oil and gas reflecting 43 percent increase compared to the amount received in the outgoing fiscal year.
KP will also receive Rs20.87 bn as net profit of electricity and Rs15 bn as arrears of the net profit. The receipts have been estimated at Rs45.2 bn.
The finance minister said Rs208 bn have been allocated for the Annual Development Programme showing an increase of 29 percent as compare to the ADP of outgoing fiscal year.
KP has earmarked Rs127 bn for the promotion of education and over 400 new primary schools will be opened across the province besides recruitment of fourteen thousand teachers.
The provincial govt has proposed Rs49 bn for enhancing health facilities, while special efforts will be made to eradicate polio from the society.
Furthermore, over Rs40 bn have been proposed for the Police which will help in the improvement of law and order situation. Over Rs6 bn will be spent on rehabilitation and repair of roads, bridges and government buildings.
Muzafar Said Advocate said a number of hydel power stations will be completed in different districts which will generate 1533 megawatt electricity. He said about Rs4 bn have been proposed for irrigation and over Rs2 bn for technical education and training.
Eight thousand schools, four thousand mosques and about two hundred basic health units will be converted to solar power system.
Earlier, the provincial cabinet approved the budget expenditures of 2017-18 in a meeting chaired by Chief Minister Pervez Khattak.
The opposition boycotted the budget speech to protest against discrimination in allocation of funds for development schemes in their constituencies.