Business

KPK Budget: KP government presents a budget of Rs. 1.32 trillion for 2022-23

KPK Budget: KP government presents a budget of Rs. 1.32 trillion for 2022-23

Taimur Saleem Jhagra, the Finance Minister of Khyber Pakhtunkhwa, presented a budget of Rs. 1.332 trillion before the provincial parliament on Monday.

Finance Minister Taimur Saleem Jhagra, who presented the yearly provincial budget at the Khyber Pakhtunkhwa Assembly session, said that Khyber Pakhtunkhwa was formerly a province prone to terrorism, but that it has now become a centre of investment.

He stated that the budget was established at Rs. 1,332 billion, with the settled districts’ cost projected at Rs. 223 billion.

He went on to say that the federation’s tax revenue is expected to be Rs. 570.90 billion, with the federation receiving Rs. 31 billion in oil and gas royalties. In addition, the tribal areas are likely to receive grants of Rs. 208 billion.

According to the provincial finance minister, Rs. 68.60 billion will be allocated to the battle on terror, while Rs. 85 billion will be raised from provincial taxes. A total of Rs. 93 billion in international aid was also included in the budget.

He also promised a 16 percent increase in government employee pay and a 15% increase in government employee pensions. A 15% ad hoc relief allowance for government employees is included in the budget, according to Taimur Saleem Jhagra, and the ad hoc relief allowance is in addition to the Disparity Reduction Allowance (DRA).

He also added that the package for Police Martyrs has been raised. The Police Martyrs Package has been increased from Grade 6 to 16, and the Risk Allowance for Police Officers has been increased from Grade 7 to 16 in accordance with DRA.

According to the provincial minister, the health budget has been boosted by Rs. 55 billion from the previous year. He stated that 800,000 people were treated using health cards last year, and that the funding for the health card has been preserved at Rs. 25 billion this year, with treatment of five additional conditions, including liver transplants, being added to the card. In addition, the budget has set out Rs. 10 billion for the distribution of free medicines.

RELATED: Awais Leghari of PML-N to present Punjab budget today

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Sibtain Ali is a Senior Editor Business at Pakistan Lounge and joined in October 2021. Formerly business editor at a renowned International News website

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