Khyber Pakhtunhwa Minister for Finance, Taimoor Saleem Khan Jhagra has termed the provincial budget for the fiscal year 2018-19, as a balanced and pro-poor, because no new tax was imposed in the budget. Addressing a the post-budget press conference at Cabinet Room in Civil Secretariat on Tuesday, he said the provincial government has prioritized the development side in the budget and allocated maximum funds for ongoing uplift schemes. He hoped that a better fiscal space would be created till May-June next year to present a new budget.
Talking about the government economic priorities, the minister said the multi-pronged strategy would be adopted to meet all fiscal targets and effective financial management system during next five years.
Accompanied by the Secretary Finance, Shakeel Qadir Khan, Secretary Planning and Development, Shahab Khan, Secretary Information Qaisar Alam Khan, and others, he explained the enhancement of provincial revenue base, receiving payments of Net hydel project from federal government as well as better financial relations, cost of government, private sector economic development, and financial management link with governance, as key priority set to bring reforms in the financial management system.
Of the total budgetary allocations, the minister said the around 27 per cent funds have been allocated for education sector, 13 per cent for health, while a target has been set to benefit further 0.8 million people from Sehat Insaf Card scheme.
In line with Prime Minister Imran Khan's vision to provide employment to the youth, the Khyber Pakhtunkhwa government would launch a scheme of Rs5 billion to create jobs, particularly in private sector. He predicted that more than 30,000 to 40,000 people would benefit from the scheme.
Replying to a query regarding completion timeline and cost escalation of the Bus Rapid Transport Project Peshawar, the minister clarified that the BRT would be completed at the cost of Rs69 billion under the revised estimates of the project.
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