PESHAWAR
\nFollowing the approval of Khyber Pakhtunkhwa\u2019s budget for the next four months, spanning from November 1, 2023, to February 29, 2024, in a special cabinet meeting presided over by Chief Minister Muhammad Azam Khan, a press conference was convened by the caretaker Finance Minister Ahmed Rasool Bangash and Information Minister Barrister Feroz Jamal Shah Kakakhel to share key details.
\nThe total estimated budget for this four-month period amounts to Rs 529 billion, representing a 14 percent increase from the previous four months. Notably, the development expenditure has been allocated at Rs 112 billion.
\nDuring the press conference, Barrister Feroz Jamal Shah Kakakhel emphasized the significance of presenting a balanced budget amidst financial challenges in the province. The government is committed to upholding principles of good governance while focusing on the continuation of essential public interest projects through prudent financial management he said. It\u2019s noteworthy that this budget has been prepared without the need for overdraft or external loans, underscoring the caretaker government\u2019s diligent financial stewardship he said.
\nHe said that on multiple occasions Chief Minister Muhammad Azam Khan and Chief Secretary Khyber Pakhtunkhwa have consistently raised concerns about the province\u2019s financial difficulties with the federal government, including discussions during the caretaker prime minister\u2019s visit to Peshawar. The improved financial situation at the federal level is expected to have a positive impact on the province\u2019s financial stability he said.
\nCaretaker Finance Minister Ahmed Rasool Bangash, in his address, explained that the Law Department, in consultation with the advocate general of Khyber Pakhtunkhwa, confirmed that the provincial government, due to extraordinary circumstances, could present the budget for government affairs after October 31, 2023. Therefore, the provincial government has received cabinet approval for a four-month budget extension, in accordance with Article 121, Article 122, and Article 126, and in line with the spirit of the Supreme Court of Pakistan judgment related to Regulation No. 1998.
\nDiscussing the budget figures, Minister Bangash revealed that the total budget estimate for the upcoming four months is Rs 529 billion, with a noteworthy 29 percent allocated to education and 19 percent dedicated to the health sector to improve health and welfare facilities. Additionally, 10 percent of the budget has been reserved for the police to maintain law and order.
\nHe said that usterity measures will continue to be enforced, including bans on government recruitment and vehicle procurement. Furthermore, the government remains committed to the development of merged districts, embracing the responsibilities that came with the merger of federally administered tribal areas with Khyber Pakhtunkhwa. Cooperation of the federal government on financial matters is required for expediting development projects in these regions he said.
\nAt the time of the merger, the federal government pledged an annual allocation of Rs 100 billion to address development issues in the merged districts. Currently, Rs 6 billion in Annual Development Program and Rs 20 billion dues in Accelerated Implementation Program remain pending with the federation, the Finance Minister said in the press conference attended by officials of the finance and planning and development departments.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR Following the approval of Khyber Pakhtunkhwa\u2019s budget for the next four months, spanning from November 1, 2023, to February 29, 2024, in a special cabinet meeting presided over by Chief Minister Muhammad Azam Khan, a press conference was convened by the caretaker Finance Minister Ahmed Rasool Bangash and Information Minister Barrister Feroz Jamal Shah […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-364317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n