NewsJune 11 , 2016
Sindh unveils Rs869.12bn budget with 50,000 new jobs
KARACHI: The Sindh government on Saturday presented the provincial budget for fiscal year 2016-2017 with a total outlay of Rs869.12 billion. The new budget translates into a rise of around 15 per cent compared to fiscal year 2015-16.
Presenting the budget in the Sindh Assembly amid the strong protest by opposition parties mainly the MQM, Finance Minister Syed Murad Ali Shah announced 11% increase in education allocating biggest amount of Rs150bn while Rs55bn has been set aside for health.
He complained that federal government still has not given Rs. 112 billion to Sindh during outgoing fiscal year as announced by the federal finance minister Ishaq Dar.
Budget for aid of minorities has been increased by 200%. The combined budget for Sindh Home Department and the police has been suggested to be Rs70bn.
A special package of Rs10bn has been set aside for Karachi in next year's budgetary proposal. Karachi will get 100 MW from Nooriabad power plant with public-private partnership Rs 13 billion.
Syed Murad Ali Shah announced 50,000 new jobs manly in education and home departments. 10 thousands new policemen and women will be appointed in Sindh.
The provincial government will spend 36% of its annual budget on development sector. The estimated deficit in the provincial budget for upcoming financial year would be between Rs14 billion.
Murad AliShah said in his budget speach that total revenue expenditure is estimated to grow by 1.8 percent to Rs572.76 billion in 2016-17.
Sindh Finance Minister during his budget speech revealed that federal government took 3 years to approve sovereign guarantee for Thar coal project.
Sindh government has increased development budget by Rs50 billion. 10% increase in salaries and ad hoc allowances has been merged into basic pay.
1500 agricultural equipments will be distributed among the farmers at half price. Nawab Shah, Sanghar road will be constructed with Rs2.9 billion.
The Finance Minister also announced increase in SIUT grant from Rs 3 to 4 billion.
Provincial budget focuses on revenue generation, employment generation, agriculture development and development of rural as well as urban areas.
Courtesy www.thenews.com.pk
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