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Thursday, May 23, 2024

GB govt unveils over Rs.116 billion budget for fiscal year 2023-24

Gilgit Baltistan Finance Minister Javed Ali Manwa presented the budget in the House.

The Gilgit Baltistan government on Monday announced an Rs116 billion 15 crore budget for the next fiscal year 2023-24 in the Assembly held here on Monday.

Gilgit Baltistan Finance Minister Javed Ali Manwa presented the budget in the House.

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In the budget of the new financial year, 74 billion rupees have been allocated for non-developmental expenditure, while 28 billion 45 crore rupees have been allocated for development expenditure. 13 billion 70 crore rupees have been proposed for subsidy on wheat.

The finance minister announced a 35 per cent increase in the salaries of government employees up to 16 and 30 per cent in the salaries of employees from grades 17 to 22.

He further said that more than one billion 37 crore rupees have been allocated for the improvement of the health sector.

Heer said that more than 1 billion 57 crore rupees have been allocated for education, 45 crore rupees for agriculture, animal husbandry and fisheries, and 4 billion 17 crore rupees have been proposed for the power sector.

More than 24 crore rupees have been allocated for the sector irrigation, 1 billion 33 crores for physical planning and housing, 3 billion 46 crores for the communication system and 28 crore 53 lakh have been proposed for IT.

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Earlier, the Gilgit-Baltistan cabinet meeting was held in Gilgit, and Chief Minister Khalid Khurshid presided over the meeting. The budget proposals for the next fiscal year were approved in the meeting.