Economics & Business

KPK govt approves to present budget with outlay of Rs 300 billion on June 11

PESHAWAR: Khyber Pakhtoonkhawa (KPK) government has given approval to present budget with outlay of Rs 300 billion for the fiscal year 2011-12 on June 11. Finance ministry sources told salaries of members of provincial assemblies would be increased like government employees in new budget. The salaries of ministers will not be increased.

A sum of Rs 18 billion had been allocated in connection with war against terrorism. Funds have been earmarked for external debt servicing. No new loans will be secured from donor agencies despite fiscal deficit. No agriculture tax will be slapped.

A new plan to set up 8 new small industries in the province has been evolved to end unemployment. Taxes have been imposed in Malakand division. The vacant posts quota has been reduced from 100 to 30 percent due to immense fiscal deficit. Proposal is also under consideration to increase development funds of members of assembly by 50 percent. Taxes will also be slapped on Karkhano market.

Meanwhile the provincial government has directed to adopt strict security measures during the budget session of KPK Assembly. In wake of possible terror attacks, the provincial government has directed to strictly check the vehicles of members Provincial Assembly on occasion of budget session. The new security plan has been issued under which special teams have been formed for patrolling in Peshawar. According to police sources, the provincial government has directed to adopt special security measures on occasion of NA meeting convened in connection with budget. -Online

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Mian Ahsan Liaqat

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