KP presents Rs 404bn budget

*Rs 80.70 billion earmarked for education *Interest-free loan to deal with unemployment

PESHAWAR – Khyber Pakhtunkhwa Minister for Finance Affairs Sirajul Haq on Saturday presented Rs 404 billion provincial budget for fiscal year 2014-15.

Beginning his budget speech, Siraj said that the provincial government has had several achievements in the past one year. He announced a 10% salary increase for the provincial government employees and fixated the minimum pension at Rs 6000.

The provincial government also increased the health allowance for the employees of up to grade-15 by 20%. The government earmarked Rs 80.70 billion for the education sector and also announced Rs 50,000 to Rs 0.2 million interest-free loans to deal with unemployment.

Siraj announced that Rs 139.70 billion allocation for the annual development programme along with the further allocation of Rs 5.26 billion for the construction and communication. About law enforcement development, the minister said that the funds for police have been increased from Rs 23 billion to Rs 27 billion.

He said that one billion rupees were designated for district and local governments. A sum of Rs 7.5 billion is allocated for construction of small hydel power plants in Hazara and Malakand divisions. He said that the federal government and Water and Power Development Authority (WAPDA) owe the provincial government a sum of Rs 140 billion.

He announced Rs 3.14 billion allocation for the agriculture sector. About Rs 13.20 billion allocated for the development of irrigation system in the province. The government also announced Rs 25.23 billion allocation for the health sector.

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