The forthcoming tax-free budget for the fiscal year 2023-24 is set to be presented in the Balochistan Assembly on Monday [today], with a hefty allocation of Rs 700 billion.
According to the Treasury Department, Finance Minister Engineer Zmarak Khan Achakzai will announce the budget at 4 p.m. The budget is expected to be larger than Rs 700 billion.
Furthermore, the expected revenue in the upcoming fiscal year’s budget is Rs 529.3 billion, with the budget deficit potentially exceeding Rs 120 billion. Furthermore, the development budget might be in the range of Rs 200 billion.
According to reports, a proposal to generate more than 5,000 positions has been made in order to increase employment chances. Furthermore, government personnel may get a large raise in pay, with a suggested 30% increase under consideration.
In the meantime, the expected earnings from Balochistan’s resources is Rs 60.32 billion.
According to sources, the money from the NFC (National Finance Commission) Award, together with other sources, is expected to yield Rs 413 billion.
Recognizing the importance of education, the Treasury Department is set to recommend a Rs 90 billion budgetary investment to improve the quality of education in Balochistan.
Additionally, measures have been suggested to prioritize peace and security, with a proposed allocation of Rs 60 billion. Likewise, the Treasury Department has proposed an allocation of Rs 50 billion to bolster the healthcare sector.
