KARACHI: Sindh Chief Minister Syed Murad Ali Shah presented a budget of Rs2.2 trillion for the fiscal year 2023-24, with a primary focus on rehabilitating individuals affected by floods. The budget allocates Rs700.1 billion for development, prioritizing the needs of flood victims and social protection for the impoverished.
The chief minister highlighted the additional burden faced by the province this year due to natural disasters and floods. CM Murad expressed that the Sindh government hosted a conference on flood victim rehabilitation in Karachi following the Geneva conference, where investors were encouraged to invest in infrastructure restoration.
CM Sindh underscored the extent of the damage caused by the floods, including the destruction of approximately 4.4 million acres of agricultural land and significant disruption to the road network.
According to the details shared during the budget speech, the provincial government’s total receipts are projected to reach around Rs2.21 trillion, indicating a 31.56% increase compared to the previous financial year. However, the expenditures of Rs2.2 trillion result in a deficit of Rs37.795 billion.
The revenue receipts consist of Rs1.823 trillion from current revenue, Rs36.133 billion from current capital, and Rs295.3 billion from other sources. Additionally, there will be Rs45 billion in carryover cash balance, Rs10 billion from the net balance of public accounts, and Rs5.58 trillion in receipts and disbursements for the financial year 2023-24.
Sindh Govt Announces 35% Increase in Salaries
CM Murad announced a 35% increase in the basic salary for employees in grades 1 to 16 and a 30% increase for employees in grade 17 and above. The minimum wage has been raised from Rs25,000 to Rs35,550. The budget also includes provisions for education, wheat subsidy, local councils, transportation, energy, healthcare, and irrigation system improvements.
Notably, the budget prioritizes the rehabilitation and reconstruction of schools, with Chinese grants amounting to Rs7.6 billion secured for the purpose. Additionally, initiatives such as the Flood Restoration Programme and the Sindh Development Through Enhanced Education Programme (DEEP) aim to restore damaged schools and enhance education infrastructure.
The budget allocation for transport has seen a substantial increase, with a growth rate of 167.8%, reaching Rs13.4 billion. The health budget has climbed to Rs227.8 billion, indicating a growth rate of 10.1%. Furthermore, the budget addresses the needs of law and order, women development, and the maintenance of the irrigation system.
The proposed budget reflects the Sindh government’s commitment to addressing the challenges faced by flood-affected communities and promoting social welfare and economic development in the province.
