Daily Times

PESHAWAR: The Khyber Pakhtunkhwa coalition government will present its budget for the fiscal year 2016-17 today (Tuesday) with an expected revenue outlay of Rs 505 billion and an annual development programme of around Rs 161 billion.

Finance Minister Muzafar Said will present the budget at 4pm in the provincial assembly.

For the annual development programme 2016-17, the provincial government has planned to generate Rs 113.5 billion from its own resources while Rs 35 billion will be sought as foreign aid under foreign projects assistance. The remaining Rs12 billion will be covered by taking loans from the Bank of Khyber and the Asian Developmental Bank (ADB).

The decision to rely on loans was taken as the federal government did not provide funds including net hydel profit and NFC awards.

The Pakistan Tehreek-e-Insaf (PTI)-led government has included 512 new schemes in the budget. The provincial government will also allocate funds for 400 smart schools in KP, whereas the government employees may get 10 percent rise in salaries.

Allocation will also be made for Gems and Gemological Institute to promote the business of gemstones and mines. A special institute will be established to refine gemstones.

Funds have been allocated for construction of schools, roads and hospitals while allocation has also been made for education and law order, maintenance of the damaged check posts and police station across the province.

The sources said that the KP government has also earmarked funds for Malakand Expressway and also to upgrade the Pehur hydel project.

Like previous years, health, education, agriculture, local government and development sector projects have received a major share of allocations this year.

Meanwhile, an official statement on Monday said that the Finance Department would upload the budget documents on provincial assembly’s website after the budget speech.