Gilgit Baltistan Government unveils over Rs54b outlay budget

News Image

By MG News | June 15, 2017 at 09:40 AM GMT+05:00

0:00

Gilgit Baltistan budget for the next fiscal year with a total outlay of over 54 billion rupees has been presented in the Legislative Assembly. Presenting the budget on Wednesday afternoon, Minister Finance Muhammad Akbar Taban said in the budget 28.2 billion rupees for non-development and 18.3 billion rupees proposed for development expenditures. He said a record increase in the development budget from nine billion to fifteen billion rupees has been made and 3.4 billion rupees of public sector development program also include in the budget. Minister said that top priority has been given to the power sector by allocating 3.5 billion rupees which is 26.5 percent of overall the development budget.

He said an amount of 1.53 billion rupees allocated for promotion of education which is 63 percent high as compared to last year allocation. Government will set up endowment fund for poor students, ten model schools will establish one each in all districts and text books to the students will provide in 143 schools free of cost. He said a handsome amount of 1.8 billion rupees earmarked to health sector. Government will implement on 34 new schemes in Health sector out of them ten targeted to be completed in the fiscal year. He said under PSDP medical college and cardiac hospital will set up to provide best health facilities. Minister announced ten percent increase in pay and pension of the Government employees after merger of ad hoc relief of 2010 in the basis pay scales. He said in the national resource management tourist information desks will be set up in all districts, twenty camping site will establish and provide loans under Tourists assistance program.

Minister said an amount of over 430 million rupees have earmarked to the agriculture sector. He said an amount of over 220 million rupees proposed for forest and environmental protection. Four new development projects costing 190 million rupees would be initiated. Referring tourism sports and youth affairs he said over 530 million rupees proposed for the promotion of these sectors.

Muhammad Akbar Taban said an amount of 140 million rupees for law department, 40 million rupees for information services and administration have proposed. He said 170 million rupees also earmarked to mineral department under which nineteen ongoing and three new development projects will be completed. Minister pointed out that under CPEC Gilgit Shandoor road would be constructed and an amount of 22 billion rupees would be spent from PSDP. He said Jglot Skardu Road would also be constructed under PSDP at a cost of 31 billion rupees. He said Diamer Bhasha Dam project KIU under Megawatt power project and eight megawatt Phunder power project are likely to be completed under CPEC. He said special economic Zone is being setup at Maqpoon Dasm where a Chinese Team is working on PC-2.

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,695.00 108,105.00
106,625.00
-1540.00
-1.42%
BRENT CRUDE 67.03 67.50
66.34
0.29
0.43%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.55 65.98
64.67
0.44
0.68%
SUGAR #11 WORLD 15.77 16.21
15.67
-0.43
-2.65%

Chart of the Day


Latest News
July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola


July 01, 2025 at 04:53 PM GMT+05:00

PSX proposes key regulatory amendments


July 01, 2025 at 04:30 PM GMT+05:00

Cement dispatches likely to drop 28% MoM in June 2025


July 01, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Breaking Records, Breaking Ground


July 01, 2025 at 03:28 PM GMT+05:00

June inflation falls to 3.2%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg