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Caretaker govt KP forms budget for next four months
The caretaker government of Khyber Pakhtunkhwa has also prepared the budget estimated at Rs560 billion.
Peshawar: The caretaker government of Khyber Pakhtunkhwa has prepared the budget for the coming four months for which the total estimate is 560 billion rupees, reportedly.
The annual budget is going to be the first and biggest challenge for the new Khyber Pakhtunkhwa government.
According to reports of Finance Department, the caretaker government had approved the budget for four months in November which will end on February 29.
The caretaker government of Khyber Pakhtunkhwa has also prepared the budget for the upcoming four months which is estimated at Rs560 billion, initially the budget of one month will be approved.
It is also reported that the constitution requires government formation within 21 days after the elections and February 29 is the last day to form a new government. In case the government is not formed by deadline, the caretaker government will be entitled to approve the budget approval for one month.
According to the finance department, it will be illegal to spend even a single rupee after February 29. At least one month's budget approval is mandatory for running day-to-day affairs. Earlier also, the caretaker government had twice approved the budget for four months.
Caretaker Finance Minister Ahmad Rasool Bangash stated that the budget has been prepared and sent to the cabinet for approval. The Cabinet has the power to approve the budget for four or one month. At present, approval of the budget is mandatory for running routine affairs.