KMC all set to present Rs25.9billion FY22 budget with Rs11m surplus
- By Rafay Hussain -
- Jun 28, 2021
KARACHI: The Karachi Municipal Corporation incumbent administration has Monday announced it prepared the fiscal year 2022 budget to the tune of Rs25.9 billion with 16 development schemes planned in it, ARY News reported.
The budget, set to be presented come Saturday, will index a fiscal surplus of Rs11 million carried forward in the budget year ahead.
Rs2.06 billion are estimated in the budget for all the development projects and it will be presented in the KMC by Karachi administrator Laeeq Ahmed.
Pertinent to note that after the elected Karachi’s local body headed by Mayor Wasim Akhtar whose term expired last year, it is the first budget.
It may be recalled that the last year’s budget was Rs24.8 billion, presented by MQM’s Akhtar lead KMC administration.
READ ALSO: Fbr notifies lowering sales tax on petroleum products
Separately yesterday it was reported that the Federal Board of Revenue (FBR) has notified lowering sales tax on petroleum products.
According to the notification issued today, the sales tax on petrol and high-speed diesel will remain the same while it was lowered on Kerosene oil and light diesel.