MUZAFFARABAD: Azad Jammu and Kashmir government on Wednesday presented its more than Rs.232 billion budget with a development outlay of Rs.42 billion and a deficit of the same amount reserved for development expenditures.
Senior Minister allotted the Finance portfolio last night; Col. Waqar Noor presented the budget in the Legislative Assembly for the financial year 2023-24 after approval by the three-member cabinet.
Col. Waqar Noor, in his budget speech, said that the government was committed to the independence struggle of Indian Illegally Occupied Jammu and Kashmir besides meeting the development goals and welfare of the people of AJK by setting a target to achieve an 85% literacy rate in AJK during the coming financial year which is at present 70%.
The minister also announced a rise in the salaries of government employees and pensions of retired servants by following the formula of the federal government.
He said that the social and production fields had been given priority in the coming financial year budget by reserving 14% of funds for the production sector compared to 11% of the current financial year budget and 31% for the social sector compared to 25% of the current fiscal year budget.
Infrastructure Development Funds in Budget
He said infrastructure development funds had been reduced to 55% in the coming financial year budget instead of 65% of the current budget allocation as his government believed that real development was possible through investment in production and social sectors.
The minister said that the public exchequer wastage would be declared a criminal offense, and taxpayers’ money would be spent on the well-being of people rather than the luxurious lifestyle of bureaucracy and government officeholders.
He also announced ensuring of fair usage of public vehicles, saying only entitled officers would use one car for official use only, and all other vehicles would be collected back from the offices.
