Tax-free AJK budget worth Rs141,400m announced

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Our Correspondent
Muzaffarabad

The PML-N led AJK government Tuesday presented tax-free budget for fiscal year 2021-22 here in the AJK State Legislative Assembly.

The budget provides the development outlay to the tune of Rs 28,000 million which shows 14 percent increase against the current financial year allocations while non development expenditure has been estimated to Rs 113,400 million.

Presenting the budget in the house, Azad Kashmir Finance Minister Dr.Najeeb Naqi said that next financial year’s budget had been prepared after complete financial planning to project maximum financial resources for the overall development of the state.

He said 66 percent of the developmental budget would be spent for the completion of 176 developmental projects while the work on 209 developmental projects would also be started during the next financial year.

He announced 10 percent adhoc relief in pay and pensions of the employees while twenty five percent disparity reductions Allowance had also been proposed in the budget.

Explaining the strategy of the developmental budget, he said top priority had been given to the communication sector with an allocation of 10 billion rupees which was 36 percent of the total development budget earmarked for the next financial year.

Under this sector, the road infrastructure will be further improved besides completion of ongoing development Projects.

The finance minister said that the Power sector would receive two billion rupees and more than two hundred electricity transformers would be installed while eighteen thousand new service connections would be given to the consumers and new grid stations would also be set up in different parts of the state to provide uninterrupted power supply to the people.

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