KP unveils Budget 22-23 today

PESHAWAR: The Khyber Pakhtunkhwa budget for the fiscal year 2022-23 is being unveiled today (Monday) with the allocation of Rs 350 billion for development.

Acting Governor Mushtaq Ahmad Ghani has convened a special session of the House for the purpose. Provincial Minister for Finance Taimur Salim Jhagra will present the budget at the assembly session to be held at 2 pm. The government employees may get a 15 per cent raise in salaries as Rs 440 billion has been allocated for salaries. The pensioners may get a 5 per cent hike and the pension bill has been put at Rs 105 billion.

Allocations of more than Rs222 billion have been suggested for the merged districts as the province expects to get Rs68.50 billion on account of the war on terror due to which the province suffered badly; Rs 550 billion is expected as a share from federal taxes, more than Rs30 billion on account of royalty on oil and gas and over Rs61 billion as net hydel profit. The budget documents showed over Rs80 billion revenue target was expected to be achieved from provincial taxes while Rs90 billion in foreign aid has been included in the budget.