Business
AJK govt presents Rs 163.7 billion budget
The development budget has been increased by Rs. 2 billion as compared to the previous financial year.
Mirpur: The government of Azad Jammu & Kashmir Saturday presented its maiden budget with an estimated outlay of Rs.163.7 billion for the next financial year 2022-23.
In the budget, an amount of Rs.135.2 billion has been allocated for recurring expenditure whereas a chunk of Rs. 28.5 billion has been allocated for development expenditure.
The development budget has been increased by Rs. 2 billion as compared to the previous financial year.
The budget proposes a 15 percent Disparity Reduction Allowance, an increase in the revised pay scale, and a 15 percent increase for pensioners.
The development budget includes Rs1.8 billion for public health, Rs 2.17 billion for education, and 12 billion for communication.
Presenting the budget for the financial year 2022-23 in the Azad Jammu Kashmir Legislative Assembly which met in the State metropolis on Saturday, the AJK Finance Minister Abdul Majid Khan said that the total expenditure for the next financial year has been estimated at Rs 135.20 billion.
He said that total development expenditure was estimated at Rs 28.50 billion.
Moreover, the minister said that an amount of 500 million has been proposed in terms of foreign aid.
Revised budget for the financial year 2021-22, amounting to 135.7 billion was also presented in the legislative assembly.