KP Cabinet authorizes Rs529.118b expenditure for next four months: Finance Minister
PESHAWAR (APP): Caretaker Khyber Pakhtunkhwa Minister for Finance, Ahmad Rasool Bangash here Thursday said that Rs529.118 billion expenditure has been authorized by the provincal cabinet with Chief Minister in chair for second four months i.e (Ist November to 29th February 2024), showing 14pc increase as compared to Rs462.939 billion of the first four months (July to October 2023).
Addressing a press conference here, the Minister said that total expenditure authorized for eight months are Rs992.055 billion for financial year 2023-24, showing 12pc increase as compared to Rs888 billion of the first eight months of the previous year budget.
He said Rs 417billion for current and Rs112.118 billion for devolopment expenditures of the second four months ie November to February 2024 that showed 19pc increase as compare to the first four months ie Rs350.041 billion current expenditure, was authorized.
The total current expenditure authorized for eight months is Rs767.040 billion in current fiscal as compared to Rs609.200 billion of the eight month of last financial year.
He said Rs366.298 billion current expenditure has been authorized for second four months (Nov to Feb 2024) that indicated 26pc increase compared of the first four month (July to October 2023) ie Rs309.498billion for settled areas.
The total authorized current expenditure for eight months are Rs675.796 billion compare to Rs526.533 billion of eight months of the last fiscal for settled areas.
For merged areas, he said total current expenditure for second four months are Rs50.702 billion against Rs40.543billion of the first four months, showing 10pc increase.
He said total development expenditure authorized for second four months are Rs112.118 billion compare to Rs112.898 billion of the first four months, showing 1pc decrease.
For settled areas, the devolopment expenditure authorized for second four months is Rs91.855 billion compare to Rs92.634 billion of first four months and Rs20.263 billion for first four months compare to the same amount authenticated for the first four months for merged tribal districts respectively.
About estimates of receipts, he said that budget estimates for 2023-24 under federal transfers is Rs895,144.91 million while receipts for four months July-October 2023 is Rs292,244.39 million and receipts for second four months ie November-February 2024 is Rs298,381.64 respectively.
The net hydel profit budget estimates for 2023-24 is Rs81,961.19 million while receipts for first four months are Rs28,357.43 million and second four months is Rs27,320.37 million.
He said 10pc of the allocated funds would be released to ongoing schemes at the start of financial year and there is a complete ban on new schemes.
He said 25pc releases shall be made to medical teaching institutions on monthly basis.
He said Rs2 billion release was under process to State Life for Sehat Card.
Rasool Bangash said there was a complete ban on creation of new posts excluded completed development projects and purchase of vehicles except ambulances etc.
Caretaker Information Minister Feroz Jamal said that there was no proposal at the moment regarding deduction or withdrawal of allowances from the salaries of Government employees.
He ruled out possibility of imposition of financial emergency in the province.
He expressed the hope that financial position of the province after receiving all the amount pending against federal Government would be improved.
Feroz Jamal said that 60,000 undocumented immigrants have returned to their home countries and federal Government policy would be implemented after expire of the October 31 deadline.
Funds to BRT and Sehat Cards would be released on priority basis, they added.
