Khyber Pakhtunkhwa Senior Minister for Finance, Siraj-ul-Haq, has said the provincial budget for financial year 2014-15, presented on Saturday, as a balanced and realistic, under the given circumstances in the province.
The prolonged terrorism and natural disastrous had brought adverse impacts on economy, coupled with wrong policies of the federal government, despite the fact the we are managed to present a people-friendly budget, with mainly focusing on enhancement of provincial revenue receipts and broadening of tax-base in the next fiscal year. This was stated by Siraj-ul-Haq while addressing at post-budget press conference at cabinet room here on Sunday.
Accompanied by provincial secretaries of various departments, the Senior Minister urged the world powers to revisit its policies regarding this region, as its people are not in a position to afford bloodshed and war-like situation there. He said militancy infested KP, has faced greater economic challenges, and financial constraints due to unjust policies of the Centre. Despite the fact, he said, the provincial budget 2014-15, will focus and emphasise on increase to improve the local tax-base and enhance revenue receipts in the province in the next financial year.
Varying with budgetary allocation outgoing year, Haq said the total expenditures and revenue has been estimated Rs 404.8 billion, with increase of 18 percent, including substantial increase in Annual Development Program, which has proposed Rs 139.8 billion from Rs 118 billion, allocated in the financial year 2013-14. He informed that provincial budget has been divided in three-portions, including welfare, development, and administrative.
Regarding the key priorities set for next financial period, the Senior Minister said the simple and good governance and curtailment of lavishing expenditures, work in health and education sector in emergency basis, steps for revival of militancy-affected economy and infrastructure, overcoming with energy crisis, unemployment, price-hike, and injustice.
Similarly, he said revival of sick industries, development of small industrial units, and ensuring all right to working and labour class, enhancing of provincial tax-base, provincial revenue receipts and attainment of legitimate rights of KP from Centre, ending of VIPs culture and protection religious minorities and their worship places are another key target of the provincial government in the next financial year.
Under the pro-poor initiative, the Minister said the government has earmarked Rs7.9 billion, to launch various welfare programmes, including health insurance, insulin for live, MNCH, BSc/MSc nursing training programme, immunisation programme, Rokhana Pakhtunkhwa programme, Iqra Farooq-e Taleem and voucher scheme, scholarship for girls (Torghar), Stori Da Pakhtunkhwa, third party validation, long-term loan for development of industries, and provincial youth technical education scheme.
He said the provincial government has allocated a hefty amount Rs 6 billion, under special relief package, for provision of edible items on subsidised rates in the open markets. Under the package, he said the poor and deserving people will have to purchase flour at Rs 10 per/kg on subsidised and ghee Rs 40 per/kg. The government, he said, had reduced ratio of sale-tax from 16 percent to 15 percent on major services, aiming to encourage business community, whereas the ratio of minor services has been decreased from 16 to 10 percent.
Giving top priority to education sector, Siraj-ul-Haq said the government has made record allocation of Rs 111 billion for the sector, showing an increase of 27.47 percent of the total layout the provincial budget for the next fiscal year. He further said a substantial amount has been also allocated for health sector.
Sensing the growing acute shortage of electricity, gap between supply and demands, the Minister said the government has allocated Rs 7 billion for energy sector, through which more than 350 small dams would be constructed. Keeping view importance of the local government institutions, he said a hefty amount f Rs 5 billion has been earmarked for the next financial year. For the clean and green Peshawar, he said Rs 29 billion has been allocated to complete 69 projects. He said the Khyber Pakhtunkhwa government is expected to receive Rs 140billion from the Centre as dues on head of net-hydel profit.
A secretary of finance level meeting between Khyber Pakhtunkhwa and the federal government would be held next month to iron out differences and resolve dispute over outstanding amount in the head of net hydel profit (NHP) to the province.
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