3 days ago
- Business
- Business Recorder
AJK govt unveils Rs310.2bn ‘tax-free' budget
MUZAFFARABAD: Azad Jammu and Kashmir government on Wednesday unveiled the annual budget with a record outlay of Rs310.2 billion, imposing no new tax.
AJK Finance Minister Abdul Majid Khan presented the tax-free budget for the fiscal year 2025-26 in the Legislative Assembly with a development expenditure of Rs49 billion. He also announced a 10 percent increase in the salaries of government employees and seven percent increase in pensions.
Delivering his budget speech in the AJK Assembly in Muzaffarabad, the finance minister said the total estimated budget size for the upcoming fiscal year is set at Rs310.2 billion, with an increase of Rs8.62 billion compared to the previous year.
Majid Khan said the development and non-development budget were jointly fixed at Rs310.2 billion, with non-development expenditures estimated at Rs261 billion and development expenditures at Rs49 billion.
He added that Rs2 billion have been allocated for the introduction of a health card in the upcoming fiscal year, while Rs240 million have been earmarked under the education package for school upgrades and the establishment of new institutions. To address the shortage of teachers in educational institutions, Rs60 million have been allocated, and biometric attendance systems have been implemented across all departments.
