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QUETTA: The Balochistan government will present the budget on Monday (today) with an outlay of Rs700 billion for the fiscal year 2023-24.
Balochistan finance minister Engineer Zmarak Khan Achakzai will present the budget during the special session convened at 4 PM.
The estimated revenue in the budget is Rs529.3 billion, budget deficit will likely exceed Rs 120 billion. The developmental budget will be increased to Rs200 billion.
Additionally, government employees may witness a significant boost in their salaries, with a proposed 30% increase under consideration.
The estimated revenue from the province’s resources is estimated at Rs60.32 billion. There is proposal to create more than 5,000 jobs to boost employment opportunities.
The revenue from the National Finance Commission (NFC) Award is projected to provide an estimated Rs413 billion.
The government is likely to propose a budgetary allocation of Rs90 billion to enhance the quality of education in Balochistan.
The budget will propose allocating Rs60 billion for peace and security, while Rs50 billion will be allocated to bolster the healthcare sector.
READ MORE: IMF expresses concerns over budget 2023-24 proposals
Earlier, the Balochistan government had postponed the presentation of the provincial budget for the financial year 2023. The budget was scheduled to be presented on 16 June 2023 in the provincial assembly.
However, the date for the budget announcement was extended as MPAs belonging to different political parties had suggested new development schemes in the budget
Last month, Balochistan Chief Minister Mir Abdul Quddus Bizenjo had said that the size of the development budget would be increased for keeping unnecessary expenses to a minimum level.
He shared these views while talking to provincial ministers and Members of the Provincial Assembly (MPAs) called on him at CM Secretariat.
In the meeting, the budget development requirements for the next financial year and the proposals of the members were also reviewed.
In the budget of the next financial year, priority will be given to the completion of ongoing projects and new collective development projects. The chief minister said that all available resources would be utilized for public welfare projects.
