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PPP government presents Rs869b budget for Sindh

02:01 PM | 11 Jun, 2016
PPP government presents Rs869b budget for Sindh
KARACHI (Staff Report) - Amid strong protest by opposition parties mainly MQM, the PPP-led government in Sindh presented a budget outlay of Rs869 billion for fiscal year (FY) 2016-17 on Saturday.

Presenting the budget in the Sindh Assembly, Provincial Finance Minister Syed Murad Ali Shah said that total revenue expenditure is being estimated to grow by 13.8 percent to 572.76 billion rupees in 2016-17.

Shah said the receipts of province for the financial year 2016-17 with 17.61 percent increase over current budget estimate of 726.57 billion rupees are estimated 854.50 billion rupees.

He said the receipts from federal divisible pool taxes comprising 67.8 percent of total tax and non-tax receipts of province are estimated 493.2 billion rupees.

The provincial budget focuses on revenue generation, employment generation, agriculture development and development of rural as well as urban areas.

Education

The biggest amount of Rs150bn has been allocated for education while Rs55bn has been set aside for health.

Law Enforcement

The combined budget for Sindh Home Department and the police has been suggested to be Rs70bn.

‘Capital city package’

A special package of Rs10bn has been set aside for Karachi in next year's budgetary proposal.

Energy Projects

Rs35 billion were set aside to deal with the ongoing energy crisis with an allocation of Rs18 billion for the Thar coal project.

Health

A total of Rs55bn has been allocated for health.

Aid for minorities

Budget for aid of minorities has been increased by 200%.

50,000 new jobs

Syed Murad Ali Shah announced 50,000 new jobs manly in education and home departments. 10 thousands new policemen and women will be appointed in Sindh.

Development funds

The provincial government will spend 36% of its annual budget on development sector. The estimated deficit in the provincial budget for upcoming financial year would be between Rs14 billion.

Salaries & allowances

Sindh government has increased development budget by Rs50 billion. 10% increase in salaries and ad hoc allowances has been merged into basic pay.

Agri equipments

1500 agricultural equipments will be distributed among the farmers at half price. Nawab Shah, Sanghar road will be constructed with Rs2.9 billion.

The Finance Minister also announced increase in SIUT grant from Rs 3 to 4 billion.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 29 Feb 2024

Pakistani rupee remains stable against US dollar in the open market on February 29, 2024 (Thursday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.1 for buying and 282.35 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 352 for buying, and 355.5 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 74.3.

Today’s currency exchange rates in Pakistan - 29 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.1 282.35
Euro EUR 303 306
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.3 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.11 751.11
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.69 41.09
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 907.32 916.32
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36 26.66
Omani Riyal OMR 725.68 733.68
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317.76 320.26
Thai Bhat THB 7.76 7.91

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