The NWFP government on Saturday presented Rs 95.987 billion tax-free budget for financial year 2006-07, with the current expenditure estimated at Rs54.5 billion and capital expenditure of Rs 14 billion. Presenting the budget in the provincial assembly.
Finance Minister Siraj-ul-Haq said that the province would get Rs 36.994 billion from the federal divisible pool, which would be Rs 6.221 billion more than the outgoing financial year.
The receipts from the federal divisible pool include Rs5.301 billion in the head of 2.5 percent GST and Rs 737 million in the head of 'royalty' on development surcharge on natural gas and oil while an amount of Rs 9.712 billion would be received in grant-in-aid from the federal government.
The provincial government has also kept an amount of Rs 8 billion as net profit on hydropower generation from the federal government. The budget document said that only 8 percent of the provincial budget has been generated from the province's own sources. The province expects 15.7 percent increase in its resources from the federal government.
The resources for the year have been estimated at Rs 67.542 billion and the running expenditure would require Rs 54.5 billion. This amount is 6.7 percent higher than Rs 51.062 billion of the current financial year.
The budget has been divided into welfare, administrative and developmental sectors to disseminate clear and correct information about the sanctioned funds for each and every sector.
An amount of Rs 42.255 billion has been earmarked for welfare sector; Rs 12.244 billion under administrative head; and Rs 26.618 million for annual development programme (ADP). The welfare budget is 52.8 percent, administrative 15.10 percent and developmental budget 32.82 percent of the total outlay.
The developmental fund of Rs 26.62 billion is 26.8 percent more than the current financial year budget, which was Rs21 billion. The share of provincial government in the development programme is Rs 14.957 billion, which is 34 percent higher than 11.20 billion of the current financial year. The annual developmental programme for the next financial year also includes foreign assistance of Rs 7.679 billion.
The provincial development programme comprises 1006 schemes, including 773 ongoing and 233 new projects. The budget also hints at Initial Public Offering (IPO) of the shares of the Islamic banking division of Bank of Khyber (BoK) in the capital market. The amount generated from the IPO would be adjusted in the equity of the Islamic banking division of the bank. Furthermore, 24 percent strategic shares of BoK would be selling to Islamic banks on merit basis. During next financial year the purchase and selling of wheat would be carried under Islamic banking.
EDUCATION: An amount of Rs 18 billion has been earmarked for promotion of education in the province. The amount is 25 percent more than the current financial year education fund of Rs 15.61 billion, 61 percent of which would be spent on primary and 31 percent on higher education.
Two new degree colleges would be established in the province with creation of 3181 new vacancies in the colleges, and both boys and girls up to class X would be provided free textbooks. Two each MA/MSc qualified teachers would be appointed in private schools and the provincial government would bear the expenses of their salaries.
The self-finance scheme has been abolished in all colleges of the province from next financial year to establish supremacy of merit and elimination of the discrimination on the basis of rich and poor in the education sector.
Health section of the welfare budget has been sanctioned Rs 4.5 billion in the next financial year, showing an increase of 15.4 percent as compared to current financial year. The increase concerns 15 percent increase in the salaries and creation of 123 new posts in the department.
The provincial government during next financial year has planned to recruit 4000 nurses in this connection, 1400 nurses and 722 female technicians would be recruited in the first phase. Different hospitals and health facilities in Peshawar would be given a grant of Rs112 million and for encouraging free medical treatment in private hospitals a grant of Rs 100 million would be granted.
The provincial government is also planning phase-wise provision of free food to patients of the public sector hospitals. The initiative is being taken from Lady Reading Hospital (LRH) at a cost of Rs 5 million.
Rs 100 million for endowment fund, Rs7 0 million for emergency medicines and Rs 30 million for Cardiology Unit of LRH and Rs 10 million for Khyber Medical College.
HYDEL POWER PROJECTS: Rs 300 million has been sanctioned for the launching of hydropower generation projects in the province. In this connection, Malakand-III Project, started at a cost of Rs 6.3 billion, would be completed in December this year. The project would generate 80 mega watt electricity. The government would start work on three new projects and start feasibility study of three more projects in the next financial year.
Similarly, an estimated amount of Rs 824 million has been reserved for construction of 20 small dams in the province.
INDUSTRIES AND MINERALS: This section has been given an amount of Rs 405 million for projects like establishment of 'Marble City' in Buner, establishment of industrial estates in Karak, Nowshera and Mardan, establishment of polytechnic institutes and vocational centres in Chitral, Kohistan, Karak, Shangla, Malakand and Dir Upper, female technical institutes in Mansehra, Peshawar, Haripur and Tank and establishment of furniture factories in Batagram and Dir.
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