Rs 74.25bn tax-free budget of Balochistan

[Naveed Yaseen]

* Deficit estimated at Rs 8.332 billion
* Rs 18.536 billion allocated for development projects

By Malik Siraj Akbar

QUETTA: The Balochistan government on Saturday presented a Rs 74.247 billion tax-free budget with an overall deficit of Rs 8.332 billion for the fiscal year 2009-10.

A Rs 3 billion budgetary support announced by Prime Minister Yousuf Raza Gilani has helped the province reduce the budget deficit.

Balochistan Finance Minister Mir Asim Kurd said, “The Balochistan government will meet the budget shortfall from its own resources during the next fiscal year.”

He said, “The budget envisages development programme of Rs 18.536 billion including Rs 5.107 billion of foreign project assistance and with a current budget of Rs 53.081 billion.”

In comparison with the outgoing budget, the total estimated receipts of Rs 59.054 billion are lesser than the outgoing budget of Rs 62.38 billion.

The direct transfer of resources is estimated at Rs 12.22 billion grants and subventions at Rs 13.97 billions and share from divisible pool of resources at around Rs 29.2 billion.

The total expenditure remained Rs 47.52 billion during the current year and in the revised budget it has fallen to Rs 46.1 billion as a result of fiscal discipline imposed by the provincial Finance Department. The saving was made despite reviving the commissionerate system in six administrative divisions and raising the revenue collection target to Rs 3.47 billion.

The finance managers unearthed dormant or dead accounts in various banks and have recovered Rs 3 billion.

Government officials opened accounts in various banks, most of which remained dormant or non operational. The managers monitored the accounts with the help of the State Bank of Pakistan.

During the drive, the Balochistan government found Rs 3 billion in the accounts. The money has been transferred to regular accounts of the Balochistan government.

Kurd announced a 15 percent ad-hoc relief allowance to serving government employees and a 15 percent raise in pensions from July 1.

http://www.dailytimes.com.pk/default.asp...2009_pg7_1