Scheduled for today, the upcoming tax-exempt KP Budget 2023-24 will be presented at the Balochistan Assembly, boasting a significant allocation of Rs 700 billion.
As per the Treasury Department’s announcement, Finance Minister Engineer Zmarak Khan Achakzai is set to unveil the budget at 4 pm. The budget size is expected to surpass Rs 700 billion, reflecting the government’s ambitious fiscal plans.
Details about KP Budget 2023-24
In addition, the projected revenue for the upcoming fiscal year’s budget stands at Rs 529.3 billion, while there is a possibility of the budget deficit exceeding Rs 120 billion. Furthermore, it is anticipated that the developmental budget will reach approximately Rs 200 billion.
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In an effort to enhance employment prospects, insider information suggests that a proposition has been tabled to generate over 5,000 job opportunities. Furthermore, there is deliberation regarding a substantial 30% salary hike for government employees, aimed at improving their financial well-being.
Meanwhile, the projected revenue derived from Balochistan’s resources is estimated to reach Rs 60.32 billion, highlighting the region’s economic potential.
According to sources, the anticipated revenue from the NFC (National Finance Commission) Award and other avenues is expected to contribute approximately Rs 413 billion. This substantial amount will play a crucial role in the region’s financial stability.
In recognition of the paramount importance of education, the Treasury Department is poised to propose a budget allocation of Rs 90 billion. This significant investment aims to enhance the quality of education in Balochistan, empowering its students for a brighter future.
Furthermore, suggestions have emerged to prioritize peace and security, with a proposed allotment of Rs 60 billion. Likewise, the Treasury Department has recommended an allocation of Rs 50 billion to enhance the healthcare sector.