MUZAFFARABAD (Staff Report) – The Azad Jammu and Kashmir (AJK) government Monday presented its Rs68 billion tax-free budget deficit budget for the next fiscal year.
Presenting the budget in the House, AJK Finance Minister Chaudhry Latif Akbar said that 9.5 percent increase has been made for developmental expenditure in the new budget.
The budget provides over Rs11.5b for development projects during the new fiscal year while non-development expenditure have been estimated to over Rs56b. The deficit of over Rs9.4b will be met by the federal government.
The finance minister also announced an increase in the pay and pensions of government employees as per announced by the federal government announcement.
He said that efforts have been made in the new budget to provide solid foundation for the socio-economic uplift from the masses.
“This budget envisages the provision of jobs to the unemployed educated youth,” he added.
Ch Latif said that the Federal Ministry for Kashmir Affairs has allocated Rs1.80b for completion of various on-going development projects in Azad Kashmir.
The finance minister said that various Federal Ministries will launch different developmental projects in AJK amounting Rs32b. These include construction of Muzaffarabad-Mirpur-Mang Express way, Taobat-Muzaffarabad road, Chaksawri Water Supply Scheme, Women University and Medical Colleges.
Rs7 billion have also been earmarked for the reconstruction projects in the quake-hit areas of Azad Kashmir, acocrding to the minister.
Chaudhry Latif Akbar said that Asian Development Bank will provide 8.5 billion rupees for the rehabilitation of damaged infrastructure in flood affected areas.
Similarly, the Islamic Development Bank will provide over five billion rupees for the completion of 337 educational institutions in quake and flood hit areas.
The finance minister announced launching of Prime Minister Green Cab Scheme to overcome unemployment in the State.
