TC May-Jun 2021 Issue

TRADE CHRONICLE
in pensions of the retired government
workers had been proposed. He said
the minimum salary of the laborers
would be increased from Rs17,500 to
Rs25,000.
Chief Minister said that health
remains a priority sector, and for the
next financial year, an allocation of
Rs.172 billion is proposed as against
a budget of Rs.132.88 billion in 2020-
21.
The budget for education in the next
budget has been proposed Rs.277.5
billion against Rs.244.5 billion in the
current fiscal.
Murad Shah announced that
budget estimates for the current
revenue expenditure of the Energy
Department are estimated at 23.26
billion, which includes Rs.21 billion for
clearance of outstanding liabilities of
electricity dues of various government
departments pertaining to DISCOs
KPK unveiled a Rs1.118 trillion budget
for the fiscal year 2021-22
The Khyber Pakhtunkhwa
Government’s Minister for Finance
Taimur Saleem Jhagra presented a
Rs1.118 trillion budget for the fiscal
year 2021-22 (21 per cent higher than
current year`s Rs923bn) with a record
development outlay of Rs371 billion to
mitigate the impact of Covid-19 and
boost economic development.
Revenue estimates showed that the
province would receive Rs559bn from
the federal divisible pool, Rs74.5bn
net hydel profit on hydroelectricity
produced in the province and Rs75bn
own revenue. The Centre would
provide Rs187.7bn in lieu of federal
grants for merged districts with a
transfer of Rs34.6bn from the divisible
such as KE, Hesco and Sepco.
He said that to exploit Thar coal
potential, Sindh had requested the
Federal Government to consider
progressing on Kati Bandar Project and
laying a railway line from Islamkot to
Mirpurkhas for coal logistics. The two
approaches are essential as industrial
expansion in Thar is challenged by
extreme weather conditions and water
Rs89.2bn.
pool at Rs34.6bn.
Foreign assistance for
development projects
has been pitched at
Expenditure estimates showed that
salaries of government employees and
pensions would cost the province a
whopping Rs466bn.
The development outlay of Rs371bn
has proposed a provincial component
of Rs150bn and Rs24bn for merged
districts. District ADP for settled parts
of the province has been pitched at
Rs15bn and that for merged districts at
Rs2.4bn.
The donor-funded projects have been
pitched at Rs89bn.
He said the government had set the
minimum
wage at
Rs21,000
a month for
labourers,
w h i l e
Rs10bn each
has been
allocated
for wheat
subsidy and
provision of
food basket
for poor.
availability.
The Chief Minister said that Rs.78
billion is earmarked for local councils in
Sindh during the current financial year.
For the next financial year allocation of
Rs.82 billion has been proposed.
He stated that the Government
of Sindh provided Rs.4.02 billion
as a relief grant and distributed
compensation to the victims of
monsoon during CFY. For 2021-22,
an allocation of Rs.500 million has
been kept for various relief measures.
Shah stated and desired to work in
close coordination with the Federal
Government in the immense interest
of the people of Pakistan to overcome
these issues. “We expect that the
Federal Government would also
support us in all our endeavours and
help to come up with viable solutions
to the issues being faced by Sindh,” he
stated. (Courtesy – BR)
For economic recovery, Rs10bn will
be provided to small and medium
enterprises, women, minorities, youth
and businesses hit by the pandemic.
The finance minister also announced
a 10pc pay raise in salary of all
government employees and said those
employees who did not draw special
allowances would get a pay raise of
37pc.
He said the province would also
spend Rs10.4bn on reducing regional
disparities and Rs2.6bn on providing
stipends to 20,000 prayer leaders in
the province.
Mr Jhagra said that in order to boost
economic activities in the province, the
government had reduced taxes. He
said f armers had been given exemption
from landholding tax during the next
year, while registration fee for vehicles
has been reduced to a nominal rate of
Re1. He also announced tax exemption
for all professionals.
The finance minister said the
government would spend Rs2.8bn on
extension of Rescue 1122 services to
other parts of the province.
He said the tourism department
development budget had been
increased to Rs12bn from Rs2bn
and that of science and technology to
Rs2bn from Rs1.1bn. (Excerpt – Dawn)
TRADE CHRONICLE - May - Jun - 2021 - Page # 14