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KP Assembly to present annual budget 2020-21 today

KP Finance Minister Taimur Saleem Jhagra will present the provincial budget. Source: FILE/Onlline
PESHAWAR: The Khyber Pakhtunkhwa Assembly will on Friday (today) present a budget with an expected outlay of Rs923 billion for next fiscal year 2020-21.
According to the notification, the Khyber Pakhtunkhwa Assembly has been summoned to meet at 03:00 PM today for the budget session. Provincial Finance Minister Taimur Saleem Jhagra will present the budget.
The provincial authorities have said that no new tax will be imposed this whereas Rs317 billion has been reserved for development projects, Rs30 billion for education and Rs24 billion for health.
The province is expected to receive Rs477 billion from the federal divisible pool after receiving a cut in the new National Finance Commission.
The federal government is unable to pay the province its full share of the Net Hydel Profit (NHP) due to which a budget deficit will be presented. The net hydel profit proceeds total Rs58.2 billion.
The provincial tax and non-tax revenue has been pitched at Rs49 billion Tax receipts have been pitched at Rs28.14 billion and non-tax revenue at Rs21 billion.
The government will obtain Rs44 billion domestic loans to fill the province’s fiscal deficit. The federal government will also provide Rs73 billion non-development grants and Rs48 billion development grants for the merged tribal districts.
The government has allocated Rs124 billion for employees’ salaries. A total of Rs15 billion has been allocated for COVID-19 emergency program and Rs88 billion for merged tribal areas expenditure. The annual development programme has been pitched at Rs317.5 billion.
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