Muzaffarabad: The Government of Azad Jammu and Kashmir (AJK) on Thursday (June 18) presented its tax-free budget for the (Fiscal Year) FY2020-21 with an outlay of PKR 139 billion, according to sources. AJK Minister for Finance Najeeb Naqi revealed the budget during his address in the provincial legislature.
The minister said that the total revenue of the project – over PKR 180 – has been projected while the ongoing expenses stand at an estimated amount of PKR 115 billion. He further revealed that the AJK government has proposed reserving 72% of the funds for the ongoing projects that were being initiated under the Annual Development Programme (ADP). However, the government proposed reserving 28% of the funds for new schemes.
“Achieving sustainable development, maintaining good governance, and protecting Kashmir cause are the top three priorities of the AJK government,” said the minister. He also appreciated the federal government for the allocation of funds for the development of AJK despite the financial constraints being experienced by the country in the backdrop of the COVID-19 pandemic.
Furthermore, Naqi highlighted that the federal government has proposed reserving PKR 3.64 billion for rehabilitation of people affected by the firing incidents on Line of Control (LoC). This is in addition to the proposed allocation of PKR 3 billion for the projects being carried out by the Ministry for Kashmir Affairs.
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