KP finance minister to present budgetary proposals today

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Khyber Pakhtunkhwa Finance Minister Sirajul Haq will be presenting budgetary proposals before the provincial assembly on Monday (today).
Though exact volume of the budget for coming fiscal year could not be ascertained, but insiders told Pakistan Today that it might be ranging between Rs 305 billion and Rs 310 billion. In the wake of financial crises multiplied by slashing of receipts from the federal government during current fiscal year of 2012-2013, the KP budget for coming financial year seems to be deficit.
For ensuring minimum debate on budgetary proposals and ensuring smooth business of the assembly, KP Speaker Asad Qaisar chaired a meeting on Saturday. The meeting was attended by parliamentary leaders of all political parties.
The budgetary proposals for outgoing 2012-2013 financial year were projected to the tune of Rs 303 billion, which included Rs 241 billion, received from the federal government. However, the provincial government has received only Rs 241 billion, thus registering a decrease of huge Rs 37 billion.
Beside slash in projected receipts from the federal government, WAPDA had also failed in paying hydro net profits to the KP government, unbalancing the province’s financial position.
According to sources, KP’s liabilities against WAPDA reached to Rs 7.5 billion which included Rs 1.5 billion for the fiscal year of 2011 and Rs 6 billion for the financial year of 2012 and 2013.
Finance Minister Sirajul Haq had not only shown resentment over failure of the Awami National Party government in getting the hydro net profit, but he also vowed for a reasonable increase in its volume.
Similarly, the KP government has also announced increasing allocations for social sectors such as health and education.

1 COMMENT

  1. It's hardly been 2 days that Finance Minsitry has been allotted in KPK and we have a budget…. A world record!
    It clearly means that the budget has been prepared by the Babus and the coalition Government in KPK is hostage to these Babus!
    Height of Bad Governance!!

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