2024–25 Khyber Pakhtunkhwa budget explained
| 2024–25 Khyber Pakhtunkhwa Budget |
| Year: | 2024 |
| Country: | Pakistan |
| Previous Budget: | 2023–24 Khyber Pakhtunkhwa budget |
| Previous Year: | 2023 |
| Next Budget: | 2025–26 Khyber Pakhtunkhwa budget |
| Next Year: | 2025 |
| Presented: | May 24, 2024 |
| Parliament: | Khyber Pakhtunkhwa Assembly |
| Total Revenue: | Rs 1,754 billion |
| Total Expenditures: | Rs 1,654 billion |
| Deficit: | Rs 100 billion surplus |
The 2024–25 Khyber Pakhtunkhwa budget was presented on 24 May 2024 by the Khyber Pakhtunkhwa Finance Minister Aftab Alam Afridi in the Khyber Pakhtunkhwa Assembly.[1] [2] The budget was presented before the federal budget, marking a first in the country's history.[3] [4]
Overview
The total budget for the fiscal year 2024-25 is estimated at Rs 1,754 billion, with a surplus of Rs 100 billion.[5] [6] The budget focuses on social protection, peace, employment opportunities, and economic development.[3] [7]
Revenue and expenditure
The total revenue for the province is estimated at Rs 1,754 billion, while the total expenditure is Rs 1,654 billion.[5] The budgeted expenditure of Rs 1.65 trillion is 21 per cent higher than Rs 1.3 trillion incurred during the current fiscal year (FY24).[8]
Salaries and pensions
The government has proposed a 10% increase in both salaries and pensions of the government employees.[6] [9] The minimum wage has been increased from Rs 32,000 to Rs 36,000.[6]
Sector allocations
The budget has allocated significant funds to various sectors:[10] [7]
- Education: Rs 362.7 billion, marking a 13% increase from the previous year.
- Healthcare: Rs 228.8 billion, marking a 14% increase. Rs 34 billion has been earmarked for the * health card program.
- Peace and Order: Rs 140.6 billion, marking a 15% increase.
- Roads and Infrastructure: Rs 60.5 billion, marking a 3% increase.
- Social Welfare: Rs 8.1 billion, marking a 6% increase.
- Mineral: Rs 2 billion, marking a 2% increase.
- Industry and Commerce: Rs 7.5 billion, marking a 17% increase.
- Tourism: Rs 9.6 billion, marking a 25% increase.
- Agriculture: Rs 28.6 billion, marking a 54% increase.
- Energy: Rs 30.8 billion, marking a 67% increase.
Tax reforms
The government has decided to improve the tax net instead of increasing the taxes. Several steps have been taken including reforms in sales tax, property tax, tobacco tax, cess, and other taxes.[10]
Controversies
The decision to present the budget before the federal government expressed the displeasure of the federal government.[8]
Notes and References
- Web site: KP to present FY 2024-25 budget tomorrow .
- Web site: KP govt presents Rs1754 billion budget for FY 2024-25 .
- https://kp.gov.pk/page/the_khyber_pakhtunkhwa_government_presented_its_budget_for_the_fiscal_year_2024_25_before_the_federal_budget_for_the_first_time_in_the_country_s_history/page_type/
- Web site: KP to present budget 2024 on May 24 before federal govt . 22 May 2024 .
- Web site: KP govt presents Rs1754 billion budget for FY 2024-25. www.radio.gov.pk.
- Web site: KP Govt presents Rs 1754b surplus budget 2024-25; proposes 10pc increase in salaries, pensions. www.app.com.pk. May 24, 2024.
- Web site: Khyber Pakhtunkhwa Budget 2024-25: Focus on Growth, Public Services, & Fiscal Strength. October 3, 2024. www.samaa.tv. October 3, 2024.
- News: KP budget 2024-25: KP draws Centre's ire by pre-empting federal budget. Manzoor. Ali. May 25, 2024. Dawn.
- Web site: Budget 2024-25: KP proposes 10pc increase in salaries, pensions of govt employees. May 24, 2024. Dunya News.
- Web site: KP BUDGET 2024-25: KP draws Centre's ire by pre-empting federal budget – Pakistan. October 3, 2024.
