The Azad Jammu and Kashmir tax free budget for the fiscal year 2019-20 amounting to over 121 billion and 56 crore rupees was presented in AJK legislative Assembly in Muzaffarabad today.
Presenting the budget in the house, AJK Finance and Planning Minister Dr. Najeeb Naqi said total ongoing expenditure for next financial year has been estimated at over 97 billion rupees.
The government will receive over 25 billion rupees from income-tax and other taxes while over 54 billion rupees as Federal grant and over 18 billion rupees as state resources.
AJK Minister Finance said that annual development programme has been estimated over 24 billion rupees.
He said out of the total development estimate, 40 percent has been allocated for communication,11 percent for education,10% per for physical planning and housing, 9% for local government, 8% for power generation projects, 6% for foreign aids projects, 3% for health while 22% for other projects.
He announced increase in the salaries of government employees and pensioners as per announcement of the federal government.
The Finance Minister also laid before the house the revised budget estimates for the current fiscal year 2018-19 amounting to over 109 billion rupees.
Earlier, the AJK cabinet approved the budget proposal for the next fiscal year.
Source: Radio Pakistan
Category: Business & Finance