3:43 AM
Muhammad Zai Khan
Official sources have revealed that the budget is likely to have an outlay of Rs249 billion with no new taxes imposed.
KP Governor Barrister Masood Kosar has called for the Provincial Assembly session at 3 pm today where the provincial budget will be presented by the Finance Minister Mohammad Humayun Khan.
Sources told that the budgetary proposals include Annual Development Programme (ADP) worth Rs85 billion out of which 70 per cent will be allocated for the ongoing schemes while the remaining amount would go to new projects.
The foreign aid component, which in the current year was around Rs9 billon, had now jumped to Rs12 billion while the indigenous development outlay might be around Rs68 billion for the fiscal 2011.
The cabinet will consider increasing the funds of the members of the provincial assembly (MPAs), which in the current ADP were Rs10 million per MPA. An increase of 50 or even 100 percent has been proposed in the development fund for the lawmakers.
The sector-wise increase in the development funds will be negligible though the roads sector, the portfolio being held by the chief minister, has been allocated Rs8 billion more in the current fiscal.
The chief minister after the revision of the existing projects has already approved 20 percent premium on the ongoing projects in the roads and works sectors. He is holding the portfolios of both the sectors.
The sources, however, said the provincial government neither increased nor decreased the funds for the annual development programme in the districts and the Rs150 billion district ADP component will remain intact. The district ADP also includes the Rs75 million special incentives of the finance minister and those of the chief minister. They said the special incentives of both the chief minister and finance minister will stay intact.
After the law and order crisis, major portion of the development funds would be spent on the water resources and flood rehabilitation projects. The sources added that during the current fiscal year the provincial government could not complete any major rehabilitation project and this time, too, the funds would be spent on the projects, which could not be completed in the current fiscal year.
The province will receive Rs18 billion from the federal government as aid for the on-going war against terrorism.
The provincial government has decided not to introduce any new tax, however, the rates of existing taxes will be increased and the number of taxpayers will be enhanced.
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