KP budget

KP’s budget worth Rs 495 billion for FY 2016-17 presented

Khyber Pakhtunkhwa’s provincial budget worth Rs 495 billion for the fiscal year 2016-17 is announced on Tuesday (today).

Khyber Pakhtunkhwa Finance Minister Muzaffar Saeed presented the budget in the assembly.

According to reports, salaries of government  employees are increased by 15 per cent.

Furthermore, Rs 161 billion have been recommended for annual development projects in the province while over Rs 82 billion are to be reserved for the provincial development programme.

It has been recommended that taxes should be revised while the increase in taxes imposed on housing societies and other sectors. Rs 33.91 billion have been recommended to be reserved for district governments, Rs 17.47 billion for health and Rs 16.91 for education.

A recommendation includes 225 new development projects is also a part of the budget 2016-17 documents.

At least Rs 1 billion are allocated for the establishment of around 200 smart schools while Rs 12.70 billion for health insurance scheme for over 100,000 people.

The government has reserved funds for the establishment of at least 300 solar-fired tube wells.

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