90.7% of revenue targets achieved in the first half of FY25, significantly surpassing last year\u2019s 66% performance
\n PESHAWAR
\nChief Secretary Khyber Pakhtunkhwa, Shahab Ali Shah, chaired a high-level review meeting of the Finance Department here on Monday to assess the province\u2019s financial position.
\nThe session, attended by Secretary Finance and senior officials, focused on budget planning, fund allocations, and expenditure across key sectors.
\nDuring the meeting, officials briefed the Chief Secretary on allocations and spending for key projects and flagship initiatives. Discussions also covered salary and pension projections, as well as the overall fiscal outlook.
\nEmphasizing the need for early preparations for the upcoming budget, the Chief Secretary directed all secretaries to closely analyze financial requirements in their respective sectors. A roadmap for governance and fiscal management reforms was also presented, underscoring the importance of transparency, digitization, and process automation. It was revealed that a two-year rotation policy would be enforced to enhance transparency in financial matters.
\nOfficials highlighted several significant financial milestones, including implementation of over 50 revenue measures in the finance bill, leading to a Rs. 14 billion revenue increase\u2014a 50% rise compared to the previous year.
\nSimilarly, 90.7% of revenue targets achieved in the first half of FY25, significantly surpassing last year\u2019s 66% performance.
\nA 200% increase in royalty on minerals, with expectations of further doubling. Rs. 100 billion projected from provincial own-source revenue. The meeting was informed that a 35% increase in released development funds compared to the previous year. Similarly, Rs.5.4 billion generated in royalties from mines and minerals.
\nThe review underscored the government\u2019s commitment to sound financial management, ensuring efficient resource allocation for the province\u2019s development. The meeting also reaffirmed efforts to strengthen fiscal governance through data-driven policies and structural reforms.<\/p>\n","protected":false},"excerpt":{"rendered":"
90.7% of revenue targets achieved in the first half of FY25, significantly surpassing last year\u2019s 66% performance PESHAWAR Chief Secretary Khyber Pakhtunkhwa, Shahab Ali Shah, chaired a high-level review meeting of the Finance Department here on Monday to assess the province\u2019s financial position. The session, attended by Secretary Finance and senior officials, focused on budget […]<\/p>\n","protected":false},"author":2,"featured_media":464941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-464975","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-peshawar"},"yoast_head":"\n