AJK unveils Rs 68b budget; government employees salaries, pensions raised by 7.5 percent

MUZAFFARABAD (92 News) – The Azad Jammu and Kashmir (AJK) on Monday unveiled Rs 68 billion budget for the next fiscal year 2015-16. Presenting the budget in the Legislative Assembly, AJK Finance Minister Chaudhry Latif Akbar said a 9.5 percent increase has been made for developmental expenditures in the budget, allocating Rs 11.5 billion for the purpose. He said that non-development expenditures have been estimated at Rs 56.5 billion. The minister said that the deficit of over Rs 9.40 billion will be met by the federal government. He announced an increase in the pay and pensions of government employees by 7.5 percent as per announced by the federal government announcement. He said the budget envisages the provision of jobs to unemployed educated youth. The minister said that Rs 1.80 billion has been allocated for various ongoing development projects in Azad Kashmir. He said that Rs 32 billion will be spent on various developmental projects, including Muzaffarabad-Mirpur-Mang Expressway, Toubut-Muzaffarabad Road, Chaksawri Water Supply Scheme, Women University and medical colleges. The minister announced that Rs seven billion has also been earmarked for the reconstruction projects in the quake-hit areas of Azad Kashmir. Ch Latif Akbar said that Asian Development Bank will provide Rs 8.5 billion for the rehabilitation of damaged infrastructure in flood-hit areas. “Similarly, the Islamic Development Bank will provide over Rs five billion for 337 educational institutions in quake and flood-hit areas.” He also announced launching of Prime Minister Green Cab Scheme to overcome unemployment.