AJK govt presents over Rs 108b budget for next fiscal year : AsiaNet-Pakistan

AJK govt presents over Rs 108b budget for next fiscal year

May 21, 2018 | | Share:

The Azad Jammu and Kashmir government presented over 108 billion rupees budget for the fiscal year 2018-19.

Minister for Finance Dr. Najeeb Naqi presented the budget in the House on Monday.

Presenting the budget he said over 25 billion rupees have been allocated for the development sector showing an increase of ten percent as compared to recurrent budget. Over 82 billion rupees have been proposed for the non-development expenditure.

The Finance Minister said 71 percent funds have been proposed for the completion of ongoing projects while 29 percent for new 201 projects.

Out of the total volume of the budget, 41 percent have been allocated for communication, 14 percent for power generation, nine percent physical planning and housing, eight percent for local government, six percent for foreign funded projects and 22 percent for other sectors.

Over 10 billion rupees have been allocated for communication sector under which 435 kilometer long link roads would be constructed and developed.

Leepa Tunnel, Shounter-Jaglot Road, Noor Narr-Jalkhad Road, Lower Toppa-Kohalla Express Way and two tunnels on Authmuqam-Tao Butt Road are being executed under Federal Ministries in addition to Mansehra Muzaffarabad Mangla Express Way under CPEC.

The roads under Federal Ministries would be completed at a cost of 49 billion rupees while Mansehra, Muzaffarabad Mangla Express Way would be completed at a cost of 142 billion rupees.

Work on three different projects with capacity of 80 megawatt electricity would be launched under public sector program.

The Finance Minister while elaborating the budget proposals said over two billion rupees have been set-aside for Physical Planning and Housing, two billion rupees for Local Government and Rural Development, over one billion thirty Crore for Prime Minister Community Infrastructure Program, about two billion rupees for Elementary, Secondary and Higher Education and Seventy two Crore for Health, Twenty Five Crore for Tourism, fifty crore for Agriculture and fifty five Crore for wild life and fisheries.

Earlier, the cabinet presided over by AJK Prime Minister Raja Farooq Haider Khan approved budget proposals for 2018-19 and revised budget estimates for 2017-18.

Source: Radio Pakistan

Category: Technology