Updated on
Summary
The Khyber Pakhtunkhwa government on Saturday unveiled Rs294 billion budget for fiscal year 2010-11 after approval of the provincial cabinet. Provincial Finance Minister Khyber Pukhthunkhwa Engr Humayun Khan Saturday presented the budget containing Rs. 69.3 billion annual development program, indicating 77 percent rise over the outgoing fiscal in the provincial assembly. The total revenue expenditures and income generation have been estimated at Rs. 294.2 billion for the next fiscal, said the provincial Finance Minister in his budget speech. Giving details of the receipts to be obtained in 2010-11, he said the province would receive Rs.123.4 billion from the central taxes, Rs.9.4 billion income expected from oil and gas royalty, Rs.6 billion net hydel profits apart from Rs.25 billion to be received by the province up to July 2010 as net hydel profit arrears.Rs.15.2 billion special grant expected to meet the growing challenge of terrorism while the provincial own receipts are expected to generate Rs.7.2 billion, he said. He said for the first time the province would get Rs.842 million from Malakand-III hydel power project, Rs.12.3 billion will be obtained from general sales tax on services and Rs.400 million from general capital income.The province expected to receive foreign loan to the amount of Rs.9.3 billion in 2010-11 while there was a provision of Rs.85.9 billion under the head of food trading. Referring to revenue expenditure for the year 2010-11, the Provincial Finance Minister said that of the total Rs.294.2 billion expenditures, Rs.127.9 billion have been set aside for the current revenue side that included Rs.9.4 billion for health and education, Rs.21 billion for police, Rs.11 billion for pension payment, Rs.51.9 billion for salaries and other miscellaneous charges to be incurred in the districts, and provision of Rs.150 million to Revenue and Estate for carrying out relief activities.Rs.2 billion have been earmarked for the subsidy on wheat, Rs.16.6 billion to go for O&M charges, Rs.5.9 billion allocated for investment and payment of arrears, Rs.9.6 billion would go to debt servicing, Rs.11 billion for capital expenditures, Rs.60 billion for the development program.He said that during next fiscal, the education department would make arrangements for provision of quality education and setting up of schools. Some 604 posts of teachers would be created in the new schools he said, adding, for education sector Rs.33.1 billion have been earmarked showing an increase of 32 percent over the outgoing fiscal.Similarly, he said Rs.2.9 billion have been allocated for setting up of 147 new colleges and libraries.
