KP govt set to unveil Rs1.6 trillion budget for FY 2024-25 today

KP govt set to unveil Rs1.6 trillion budget for FY 2024-25 today


Rs259 billion earmarked for developmental projects, pay raise for govt employees being considered

Follow on
Follow us on Google News

PESHAWAR (Dunya News) – The Khyber Pakhtunkhwa government is all set to reveal its budget for the financial year 2024-25 in the Provincial Assembly today (Friday), with an estimated total outlay of Rs1.6 trillion.

According to the KP Finance Ministry, the budget is structured with an outlay of approximately Rs1.6 trillion, with expenditures estimated to amount to Rs1.65 trillion.

Within the budget, the province has allocated Rs259 billion for developmental projects.

Sources indicate a proposal for a 15 percent pay raise for government employees.

The Health Department is set to receive over Rs70 billion, with an additional allocation of more than Rs28 billion designated for health cards.

A subsidy fund of up to Rs2.5 billion has been assigned for the BRT [mass transit] system.

Rather than introducing new taxes, the budget entails adjustments to existing ones.

The Finance Department has proposed increasing BRT [mass transit] fares by up to Rs10 per stop.

The department has recommended allocating 90 percent of funds for ongoing projects instead of initiating new ones.

According to sources, there's a proposal to reduce taxes on property transfers from 6 percent to 3 percent and to levy an excise duty on tobacco purchasing companies.