KP set to present its third annual budget today | Pakistan Today

KP set to present its third annual budget today

The Pakistan Tehreek-e-Insaf (PTI)-led coalition government in Khyber Pakhtunkhwa would present its third consecutive annual budget 2015-16 on Monday afternoon (June 15) in the provincial assembly.

KP Minister for Finance Muzaffar Said Advocate will present his maiden budget which is expected to carry total outlay of Rs 472 billion for the fiscal year 2015-16 as against Rs 404 billion of the outgoing fiscal 2014-15.

The total development outlay of the 2014-15 was Rs 139 billion which is 34.54 percent of the total budgetary allocations.

The earlier two budgets of the present government of PTI were presented by Sirajul Haq in his capacity as senior minister for finance in 2013 and 2014.

The JI legislature from lower Dir district Muzaffar Said Advocate had assumed the portfolio of finance as Sirajul Haq relinquished the charge after his election as Amir Jamaat Islami Pakistan.

The JI is coalition partner in the KP government with PTI and Awami Jamhori Ittehad Pakistan (AJIP).

The sources in Finance Department said that the province would generate Rs 32.75 billion, seven percent of the total receipts from its own sources in the 2015-16 financial year and would depend upon the centre for the remaining 93 percent.

The province would generate around Rs 22 billion from direct taxes and Rs 10.59 billion from indirect taxation in the coming fiscal which also included income generation from the hydel resources.

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