Daily Times

MUZAFFARABAD: Azad Jammu and Kashmir (AJK) government Tuesday presented its last budget for the fiscal year 2021/22 in the Legislative Assembly of the total volume of Rs. 141.4 billion with a development outlay of Rs. 28 billion increasing salaries of the government employees by 10 percent along with 25 disparity reduction allowance and 10 percent increase in pensions of retired employees as well.

Finance Minister Dr. Najeed Naqi presented the budget in the special session of the Assembly chaired by Speaker Shah Ghulam Qader thinly attended by members due to electioneering.

Dr. Naqi told the House that the total revenue receipts were estimated 113.4 billion while the recurring expenditures were also estimated the same and Rs. 28 billion were allocated for annual development program which are apparently a deficit of the budget and would be met with special grant of the central government.

The government will receive 22600 million rupees in the head of income tax, 8900 million rupees in the head of other taxes, Rs 59500 million in the head of variable grant, Rs. 22118 million in the head of state revenue, Rs. 700 million and Rs 600 in the head of capital receipts.

Finance Minister said that in annual development program (ADP), 66 percent funds were allocated for running development schemes while 34 percent funds were allocated for 209 new schemes and while elaborating the salient feature of ADP, he explained that the social sector was given 22 percent, productive sectors were given 10 percent and 68 percent funds were allocated for infrastructure sector.

In the development expenditures, priority has been given to communication sector with an allocation of Rs.10 billion while Rs. 3.2 billion has been allocated for education, Rs. 4.8 billion were allocated for physical planning housing and Rs. 1.75 been has been allocated for health sector.

Later in the evening session, the Legislative Assembly passed the next fiscal year budget 2021-22 and supplementary budget for current fiscal year without debate including the finance bill.

Finance Minister Dr. Najeeb Naqi moved the Finance Bill in the House which was passed with consensus after the report presented by the standing committee.The House also approved the demands for grants for the next fiscal year with consensus.

Speaking on the occasion, Speaker Shah Ghulam Qadir thanked the government and the Opposition members for their cooperation extended to him for the smooth conduct of the Assembly proceeding.

Later, the Speaker adjourned the House sine die.