Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

AJK, Gilgit-Baltistan budgets for next fiscal year passed

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The Azad Jammu and Kashmir Legislative Assembly today passed budget for the fiscal year 2017-18 with total outlay over 94 billion rupees.

The legislative Assembly in its meeting in Muzaffarabad, also approved all demands for grants with majority votes. The house also approved revised estimates of budget for the fiscal year 2016-17 amounting to over 76 billion rupees.

Concluding debate on the budget, AJK PM Raja Farooq Haider Khan appreciated Prime Minister of Pakistan for enhancing the Annual Development Programme to the tune of over 23 billion rupees showing hundred per cent increase in it.

The development projects relating to communication, education, health, reconstruction and tourism would be completed at a cost of over 30 billion rupees.          

Raja Farooq Haider Khan said under first phase of CPEC, Mansehra Muzaffarabad Mirpur Mangla Express way would be constructed with an estimated cost of 142 billion rupees.

The AJK Prime Minister said 1124 megawatt Kohalla and 720 megawatt Karrot Hydropower Projects would also be completed under CPEC.

He announced to hold local government elections this year and said that number of union councils and neighborhood councils would be increased to give maximum participation to people.

Later the speaker adjourned the session for an indefinite period.

Meanwhile, the Gilgit Baltistan Legislative Assembly today unanimously approved budget of Gilgit Baltistan for next fiscal year with a total outlay of over 54 billion rupees. 

Winding up debate on budget Finance Minister Muhammad Akbar Taban thanked both members of treasury and opposition benches for approving over 18 billion for development expenditures.

Several members from treasury and opposition benches took part in the debate and presented their suggestions to make the budget more people friendly.

Speaking on the occasion, Chief Minister Hafiz Hafeez-ur-Rehman said apart from Gilgit Baltistan development budget, the federal government has approved development projects worth over 98 billion rupees.

Posted on: 2017-06-22T06:06:00+05:00