‘KP announces Rs 45b surplus budget 2019-20’

Peshawar: Khyber Pakhtunkhwa (KP) surplus budget for fiscal year 2019-20 with a record outlay of Rs 900 billion was announced on Tuesday.

KP Finance Minister, Taimur Saleem Jhagra said that total revenue has been estimated at Rs 900 billion against estimated expenditure of Rs 855 billion thus showing a surplus amount of Rs 45 billion.

He said that province would receive Rs 453 billion from federal taxes and Rs 54 billion from federal divisible pool for war on terror.

It will also receive an amount of Rs 151 billion from federal government for development of tribal districts in addition to Rs 55 billion as net profit of electricity.

He said that Rs 108 billion has been allocated for Annual Development Programme which was a record.

This amount is forty-one percent more than current ADP.

The Finance Minister announced ten percent increase in salary of government employees from scale one to sixteen and five percent from seventeen to twenty.

He said that age of superannuation has been enhanced from sixty to sixty-three years this would help in saving Rs 20 billion annually.

Earlier, a meeting of KP Cabinet was held in Peshawar with Chief Minister, Mahmood Khan in chair.

The Cabinet approved budgetary proposals for new financial year.

Leave a Reply

Your email address will not be published. Required fields are marked *