KP Government Unveils Ambitious Budget for Fiscal Year 2024-25

The Khyber Pakhtunkhwa (KP) government has recently revealed its annual budget for the fiscal year 2024-25, amounting to Rs1,754 billion with a surplus of Rs100 billion. The budget speech emphasized key areas such as social protection, peace, employment opportunities, and economic development, aligning with Chief Minister Ali Amin Gandapur's vision for the province.

One of the significant highlights of the budget is the 10% increase in salaries and pensions for government employees, coupled with a rise in the minimum wage. The revenue projections for the upcoming fiscal year encompass diverse sources like federal government allocations, foreign project assistance, and development grants.

The government's strategy focuses on broadening the tax base rather than raising tax rates, introducing reforms in sales tax, property tax, and other levies. Furthermore, adjustments have been made to sales tax rates for specific services and sectors to stimulate economic progress.

Allocations have been allocated for key sectors, with Rs362.7 billion allocated for education, Rs228.8 billion for health, and Rs140.6 billion for law and order. Additional funds have been earmarked for infrastructure, social welfare, industry, tourism, agriculture, and energy ventures.

The budget outlines development expenditures for both settled and merged districts, concentrating on infrastructure projects, agricultural initiatives, and advancements in the energy sector. Funds have also been set aside for housing programs, irrigation schemes, road construction, and energy generation projects.

To bolster law and order, provisions have been made for the PEHL 911 project and increased funding for social welfare programs and shelter homes. The budget underscores investments in industries, tourism, agriculture, and energy sectors to propel economic growth and progress in the region.

The KP government's budget for the fiscal year 2024-25 reflects a comprehensive approach towards addressing key societal needs and fostering economic development. With a focus on social welfare, infrastructure enhancement, and sector-specific investments, the budget aims to drive progress and prosperity across the province, in line with the government's commitment to improving the quality of life for its citizens.