Azad Kashmir presents Rs 44 bn budget

Pakistan

Azad Kashmir presents Rs 44 bn budget

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A total of Rs 36 billion has been allotted for non-development expenditures in the new budget.

14 June,2011 07:46 am

The budget was announced by the Azad Jammu and Kashmir (AJK) Finance Minister Abdul Rasheed Abbasi in the AJK legislative Assembly which met in Muzaffarabad on Monday.The AJK Government announced Rs. 44.549 billion revenue-oriented budget of the state for next fiscal year (2011-12), with revenue expenditures of around 37.548 billion and deficit of Rs. 5.060 billion. An amount of Rs. 8.284 billion has been allocated for the development sector. There has also been an overall increase of Rs 7 billion in the budget compared to the last financial year. Total revenue generation has been estimated as Rs. 26.157 billion with Rs. 5.060 billion deficit which would be met by the federal government.The minister further told that the development budget amounting to Rs. 8.284 billion would be provided by the federal government whereas Ministry of K&GB affairs would provide Rs. 2.494 billion additional amount.