Khyber Pakhtunkhwa presents Rs 488b budget; 21pc increase for education sector

PESHAWAR (92 News) – Khyber Pakhtunkhwa on Monday presented Rs488 billion budget for the fiscal year 2015-16. Presenting the budget, Provincial Minister for Finance Muzaffar Hussain Syed said that Rs174 billion have been allocated for development projects. A sum of Rs97.94 billion has been allocated for education, increasing the budget to 21 percent. The minister said that Rs29 billion has been allocated for health. “Rs32 billion has been allocated for the police,” he said. Muzaffar Hussain said a sum of Rs3 billion has been allocated for the energy projects. The minister said no new tax is being introduced in the budget. “Islamic Micro-finance fund will be created,” he said. The minister announced an increase in the salaries of government employees from 10 to 15 percent. Muzaffar Hussain said that they will receive Rs279 billion from the federal government to bear the expenses. The minister said Rs30.14 billion will be received to eliminate menace of terrorism, while Rs19 billion will be earned under gas royalty. “A sum of Rs17 billion will be earned under energy royalty,” the minister said. Muzaffar Hussain said a sum of Rs32 billion will be received under foreign aid, while Rs54.42 billion will be province’s own income.