GB presents Rs1.402 trillion budget for upcoming fiscal year

GIlGIT: The Gilgit-Baltistan government has proposed a Rs1.402 trillion budget with a Rs19.07 billion subsidy for wheat in the upcoming fiscal year 2024-25.

Presenting the budget in the provincial assembly, GB Finance Minister Engineer Ismail said that an amount of Rs86.6 billion was allocated for non-development expenditures and Rs34.5 billion for development projects.

“The development budget includes Rs20 billion for the annual development programme and Rs13.5 billion for the federal government projects,” he said.

The minister said that the wheat subsidy funds had been allocated in order to provide relief to the GB people.

Sector-vise budgetary allocation

In the financial plan for FY25, the education sector got an allocation of Rs1.37 billion, Rs1.52 billion for health sector, Rs597.9 million for agriculture department, Rs998 million for food department and Rs110 million for mineral resources department.

The finance minister said that Rs1.728 billion has been earmarked for irrigation department, Rs1.524 billion for forestry and environment department, Rs1.19 billion for rural development department and Rs1.316 billion for information technology department.

Moreover technical education department Rs 7.763 billion, social welfare department Rs 3.632 billion, power department Rs 2.88 billion, communication department Rs 5.63 billion, and information department Rs 41.4 million.

Additionally, Rs536.8 million was specified for the prison department, Rs192.6 million for law department and Rs57.4 million for excise and taxation department.

The minister also announced an adhoc relief of 25% increase in salaries for grade 1-16 government employees and 20% for grade 18 and above.