PESHAWAR: The Town-I Council on Tuesday presented Rs1.256 billion budget for the fiscal year 2018-19.
Town-I Nazim Zahid Nadeem presented the budget during the session that was chaired by Convener Muhammad Shoaib Bangash.
Presenting the budget, Zahid Nadeem said that an amount of Rs25 million has been allocated for the repair and beautification of roads and streets in the town. He said that octroi tax worth Rs336 million was collected from the Town-I and Rs197 million was received from Provincial Finance Commission award.
The nazim said that revenue from the town local fund amounted to Rs244 million, Rs180 million from the UIP tax and Rs54 million from other resources.
The Town-I nazim said that Rs288 million was in the town account. He said the total revenue was Rs1.256 billion while the expenditure was Rs1.253billion. The council session was adjourned till next Tuesday as the budget was not passed due to the opposition of the councillors over the distribution of development funds.
The councillors claimed that the distribution procedure among the councillors had not been explicitly mentioned in the budget.
Convener Muhammad Shoaib Bangash postponed the session till next Tuesday and linked the approval of the budget to the mentioning of equitable distribution of funds among the councillors in the budget.