Peshawar: Khyber Pakhtunkhwa (KP) Finance Minister Taimur Saleem Jhagra on Friday (today) presented the provincial budget – estimated at approximately PKR 932 billion – for (Financial Year) FY2020-21 in the provincial legislature, according to news sources.
In wake of the prevailing pandemic and the limited capacity of the health sector, a record-breaking budget – of over PKR 124 million – was allocated for the province. The finance minister said that the government will sign the contract for Universal Health Insurance programme within a month – allowing each KP family with access to over PKR 1 million insurance with the Sehat Insaf Cards.
Moreover, the health budget will also be supplemented by PKR 24 billion contingency funds to mitigate the anti-coronavirus expenses. For the enhancement of the KP flagship tertiary hospitals, PKR 36 billion have been allocated.
Jhagra said that since the provincial budget is a tax-free budget (with no new taxes, and no increase in major tax rates) – there will be zero bed tax for hotels, and no professional tax for KP Revenue Authority’s (KPRA) registered professionals from 18 specified categories. He further revealed that the entertainment tax is being permanently abolished as well.
Reportedly, the sales tax on services is suggested to be reduced in 27 categories. The re-registration of vehicles will also be conducted free of cost – and without the no-objection certification (NOC) requirements.
In the education sector, the administration fees for primary school, secondary school and professional government art colleges is to be waived off. Furthermore, PKR 152 billion have been allocated for secondary education.
Moreover, the minister also informant that 21 Rescue 1122 stations are being set in merged districts. He said that 57-Megawatt (MW) power is added to the transmission lines through three new hydel power projects. The ministry has also suggested special measures to encourage business activities in the province, with PKR 319 billion allocated for development schemes in KP.
Meanwhile, the provincial assembly was informed that the KPRA has observed a growth rate of 80% this year – when compared with last year’s figures – and is expected to collect PKR 17 billion by the year-end.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
