CM Sindh addresses post-budget press conference

Karachi: Sindh Chief Minister Murad Ali Shah Saturday said that 3.5 percent GDP growth is being discussed for the next year. The efforts are being made to cooperate with the federation regarding GDP.

Addressing the post-budget press conference, the Chief Minister Sindh stated that the total budget is Rs3.056 trillion. Sindh government's budget is higher every year, we expect to get 1900 billion rupees from the federation.

Murad added that our development budget is more than other provinces. 31 percent of Sindh's budget goes to development works. The federal government has terminated our schemes, they should consider Sindh as Pakistan and give development schemes. The caretaker government stopped the development schemes of the elected government.

He further said that the budget has been made in difficult circumstances. Due to the closure of development schemes included in the caretaker government's budget, there has been a slowdown. In the current budget measures have been taken to restore the flood victims.

He also stated that the Sindh Cabinet decided not to include any new scheme in the budget but to complete all the ongoing schemes this year and next year we will go for growth. However, this does not mean that this year we will not go for growth.

The Sindh Chief Minister added that out of Rs3.056 trillion, 1,912 billion rupees are for current revenue expenditure, Rs184 billion are for current capital expenditure (will go to other funds including loan repayment), more than Rs1 trillion will be spent on development for the next financial year.

Murad Ali continued that 70 percent of the current revenue expenditure of more than 1900 billion goes to salaries only, which includes 38 percent of current salaries, 14 percent of pensions and other grants including the rest of the local government. Non-salary is only 21 percent of the expenditure which includes operating expenses, physical assets expenses, repair of buildings etc.

Chief Minister said that we expect to get 1900 billion rupees from the federation. We have kept 619 billion rupees for tax, 43 billion non-tax revenue has been kept. The current capital reset is around Rs27.5 billion. In this way, we are getting Rs2.590 trillion. Apart from the gap, the money is coming from foreign assistance projects.

“We have three main institutions that collect taxes. Sindh Revenue Board's target for this year was 235 billion rupees which was achieved, while next year's target is 300 billion rupees,” he told.

Ali Shah also said that the Excise and Taxation Department will collect revenue of around 130 billion this year. Next year its target has been set at 204 billion rupees. In this regard, the Board of Revenue is our weakest institution. We have made efforts for its improvement and a committee has also been formed for it.