Gilgit: The government of Gilgit-Baltistan (GB) on Thursday announced its budget for FY2019-20, with a total outlay of PKR62 billion – a news source reported.
Finance Minister Mohammad Akbar presented the budget in the Gilgit-Baltistan Legislative Assembly.
As per the budget announcement, the government has allocated funds worth PKR 26 billion for development and PKR 34 billion for non-development expenditures.
The finance minister said that the executive has proposed allocations worth PKR 1 billion for establishing an endowment fund for patients who cannot afford to pay for their health expenses.
Moreover, the government has proposed a 55% and 51% increase in the allocations for works and energy departments, respectively. Akbar said that seven mega energy projects have been included in the development budget, in addition to special allocations proposed for thermal, wind, and solar energy projects.
Previously, Chief Minister Hafeezur Rehman had chaired a meeting of the GB cabinet, which was held to approve the budgetary proposals. He informed the cabinet members that the new budget aimed at promoting economic growth of the region.
