AJK budget worth RS 94.41b presented in assembly
MUZAFFARABAD (92 News) – Azad Jammu and Kashmir budget for the fiscal year 2017-18 amounting to over Rs94.41 billion was presented in the AJK legislative Assembly in Muzaffarabad on Thursday.
For the first time in the history of AJK, the development budget is being enhanced 100 percent and provides total outlay to the tune of over Rs23 billion.
Presenting the first budget of the incumbent government in the house, AJK Finance and Planning Minister Dr Najeeb Naqi said that total expenditure for next financial year has been estimated over Rs71 billion.
Finance Minister said the government is giving top priority to spread network of roads in the state to promote tourism. The government of Pakistan has already included the mega development projects for Azad Jammu and Kashmir in Federal budget.
The Finance Minister said that out of the total development estimates 39 percent has been allocated for communication, 15 percent for power generation projects, 9 percent for local government and rural development, 8 percent for foreign funded projects, 7 percent for physical planning and housing while 22 percent for other sectors. He said 86 percent funds have been allocated for the ongoing 154 schemes while 32 percent for new development schemes.
He said that the requisite funds have also been allocated for education, health, tourism, local government and rural development and other sectors. The government allocated Rs22551 million for education and Rs6626 million set aside for the health sectors.
He elaborated that Tao Butt- Muzaffarabad road, Poonch University, Women University Bagh, Complex for Legislative Assembly and Neelum Jehlum Hydro Power Projects will be implemented under this budget.