Azad Jammu & Kashmir Legislative Assembly, on Monday unanimously approved tax-free budget amounting to over Rs 35.406 billion for the next fiscal year. Speaker AJK Legislative Assembly Shah Ghulam Qadir, while chairing the budget session lauded the members of both sides for taking part in budget debate and thanked for their co-operation for running the House successfully.
According to budget details, non-development expenditure has been estimated to the tune of Rs 24.650 billion against revenue receipts of the state income, which is estimated, at Rs 19.870 billion. Whereas, the budget provides the development outlay to the tune of Rs 10.750 billion, which shows overall increase of 13 percent as compared to outgoing financial year 2008/09. Prime Minister Sardar Muhammad Yaqoob Khan presented the budget.
AJK finance minister Chaudhry Latif Akbar in his budget speech said that the coalition government has launched austerity drive aiming at curtailing non-development expenditure. The finance minister paid special gratitude to President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani for their commitment with Kashmiri people and said that federal government has made 34 percent cuts in development budget of the provinces but AJK was exempted from such cuts despite the financial crunch facing the government.
He was of the view that budget deficit of Rs 4.770 billion would be met by the financial assistance of the federal government. He said that increase in salaries and pensions of government employees will be treated as similar to the federal government package and added that AJK PM Sardar Yaqoob has already made an announcement in this regard.
The finance minister informed the legislatures that income generated from the state resources for the next FY2009/10 would be about Rs 20 billion. The finance minister said that Rs 64.12 billion would be expenditure against development projects and reconstruction of quake battered areas.
He said that Pakistan government will provide Rs 10.750 billion for the annual developmental programmes to AJK government which is also 13 percent higher than the previous financial year. Similarly, Rs 6390 million have been provided for the completion of eleven mega projects in the annual development programmes, while another Rs 16 billion would be spent in AJK communication sector.
Giving details, the finance minister said that Rs 7870 million have been earmarked for Hydro power generation projects, and Rs 1720 million set aside for local government and rural development programme. He told that AJK government has launched work on mega projects including Neelum/Jhelum Hydel project which will generate 969 MW electricity.
He said funds allocated in the new budget, would be utilised for the completion of various projects including health, education, agriculture, irrigation and drinking water, besides a comprehensive environment protection programme.
He told that Rs 100 million would be spent on the extension of Abbass Institute of Medical Sciences, Muzaffarabad and construction of 150-bed hospital in Plundari. He said Rs 350 million have been allocated for forest sector, Rs 620 million for physical planning housing schemes, Rs 360 million for public health engineering programme, over Rs 720 million would be spent on completion and extension of various school and college projects.
He said Rs 350 million have been earmarked for promotion of information technology and technical education programmes in AJK. He said Rs 580 million would be spent on agriculture, Rs 400 million for irrigation and Rs 500 million for the animal husbandry sectors. He said that over Rs 3.52 billion for communication sector has been proposed which shows 33 percent increase as compared to ongoing 2008/09 financial year. He added that under this sector, highways, rural and urban roads and construction of bridges would be initiated on priority bases.
The Finance Minister presented some 31 demand notes before the House, while from opposition benches, some 12 cut motions were presented against demand notes. The opposition did not stress on their cut motions as they were ensured that their proposals would be entertained accordingly. Later, the demand notes were also unanimously approved. Winding up his budget speech, the finance minister felicitated the members from both sides of the House for taking active part during the budget session.
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