KP unveils Rs2.1trn surplus budget
The budget was presented by the Provincial Minister for Finance Aftab Alam Afridi. Chief Minister Ali Amin Khan Gandapur was also present in the house.
Current expenditure for settled districts has been estimated at Rs. 1255 billion besides Rs.160 billion for the merged districts of the erstwhile Fata.
Giving the break up, the finance minister said that in head of the federal receipts, the province will receive an estimated amount of Rs.1147.761 billion: Rs.137.912 billion in head of 1% of divisible pool on war against terrorism, a Rs.57.115 billion in head of straight transfer in royalty and surcharge on oil and gas, Rs.58.151 billion in head of windfall levy on oil, Rs.34.580 billion in head of net hydel profit and another receipts of Rs71.410 billion in head of arrears in head of net profit.
He said the provincial own resources posted 38% increase due to expansion of tax net without the imposition of any new tax. In head of tax receipts, the province will collect an estimated amount of Rs.83.5 billion, and Rs.45.5 billion in head of non-tax receipts. Similarly, in head of capital receipts, the province will generate an amount of Rs.0.25 billion, and Rs.10 billion in head of other ways and means.
The minister told the house about receipts from federal government in head of the current budget grant for merged district and an additional demand for current budget of Rs.63 billion, Rs.39.600 billion in head of annual development program, Rs.50 billion for accelerated implementation Programme (AIP), Rs.42.740 billion in head of 3% share from other provinces and Rs.17 billion for the temporarily displaced persons (TDPs).
He said that Rs3.293 billion would be received from PSDP, Rs1506.92 billion from the federal receipts, Rs129 billion from provincial owns receipts, Rs10.25 from other receipts, Rs291.340mn from merged districts receipts and Rs177.188 from federal projects assistance.
He said that no new tax has been imposed in the budget; rather tax net base has been enhanced with Rs83.5 billion tax receipts and Rs45.5 billion non tax receipts. He said the government has estimated Rs1255 billion current expenditures for settled areas including Rs288.514 billion for provincial salaries, Rs288.609 billion for tehsil salaries. He said that the government has allocated Rs547 billion for developmental expenditure, including Rs 195 billion for PADP, Rs39 billion for district ADP, Rs39.6 billion for merged tribal districts' ADP.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
4 hours ago
- Business Recorder
Rs12bn grant for SSWMB approved
KARACHI: The Cabinet Committee on Finance, under the chairmanship of Energy, Development & Planning Minister Syed Nasir Hussain Shah and Interior & Law Minister Zia-ul-Hassan Lanjar, held a high-level meeting in the committee room of the Energy Department. During the meeting, the Sindh Solid Waste Management Board (SSWMB) presented a request for an additional budget for the fiscal year 2024–2025. After thoroughly reviewing the legal aspects of the request, the committee members, in mutual consultation with the provincial ministers, approved a conditional out-of-budget grant of Rs 12 billion for the Sindh Solid Waste Management Board. The Energy and Interior Ministers directed the relevant officials of the Solid Waste Board to address all concerns and legal objections raised by the Finance Secretary regarding the grant. The committee also decided that the Solid Waste Management Board will reassess all existing contracts with waste collection contractors, as the rates in Sindh were found to be higher than those in other cities. A proper system will be introduced to accurately measure the weight of garbage removed from the city, and Razor Readers will be installed in all garbage collection vehicles. This will ensure that contractors are paid according to the actual weight of garbage transported, thereby preventing the misuse of public funds. On this occasion, Minister Nasir Shah emphasized the need to further improve the operations of the Solid Waste Management Board to enhance cleanliness and provide relief to the public. He urged officers to utilize their full potential for this purpose. The committee was informed that the Solid Waste Management Board is currently operating in Karachi, Hyderabad, Sukkur, and Larkana, serving a population of approximately 24 million. With increased operations, the board's expenditures have risen to Rs 43 billion. It was further revealed that the board is expecting a revenue of Rs 10 billion from various ongoing projects, which are currently being finalized. Minister Nasir Shah also stressed the importance of ensuring timely payments to waste collection contractors and establishing a transparent mechanism to ensure continuity in cleanliness and waste removal services. It was decided that the Solid Waste Board will renew all contracts within 3 to 6 months. The meeting was also attended by Planning & Development Chairman Najam Shah, Finance Secretary Fayaz Jatoi, Local Government Secretary, and other officials. Copyright Business Recorder, 2025
Business Recorder
4 hours ago
- Business Recorder
PMI streamlines local operations: PMPKL takes steps to delist from PSX
KARACHI: Philip Morris (Pakistan) Limited (PMPKL), the local arm of global tobacco giant Philip Morris International (PMI), has formally taken steps to delist from the Pakistan Stock Exchange (PSX), signaling a major shift in its corporate strategy. The move, aimed at consolidating operations and enhancing group-level efficiency, has reached a critical stage with the company's buyback offer now disclosed in line with voluntary delisting requirements. In a notice issued to the Pakistan Stock Exchange, PMPKL reiterated that the delisting proposal was first approved by its Board of Directors at a meeting held on March 25, 2025, in Karachi. Under Rule 5.14 of the PSX Voluntary Delisting Rules, the board resolved to initiate the delisting process. As part of this transition, Philip Morris Investments B.V., the company's majority shareholder and sponsor, has committed to buying back 1,444,931 shares from minority shareholders at the price of Rs 1300 per share. Philip Morris Brands SARL, the co-sponsor, will retain its shareholding in the now private entity. This move marks a significant milestone in the journey of PMPKL, which originally entered the Pakistani market by acquiring Lakson Tobacco Company Limited, subsequently rebranding to its current identity on February 25, 2011. The company is engaged in the manufacture and sale of cigarettes and tobacco products, and has operated under the banner of one of the world's leading tobacco firms. Analysts noted that the intended delisting reflects a broader trend among multinational entities reassessing the viability and regulatory landscape of public listing in emerging markets. The move, once completed, will make Philip Morris Pakistan a privately held company again — allowing its sponsors more direct operational control in a challenging regulatory and fiscal environment. Market observers view the step as part of a global realignment by PMI to optimize capital structures and reduce reporting burdens across its emerging market entities. Copyright Business Recorder, 2025
Business Recorder
6 hours ago
- Business Recorder
Rs80m for Shehbaz Road Sewerage Line approved
LAHORE: The Punjab government has approved funding of Rs 80 million for the Shehbaz Road Sewerage Line project, and a tender for the project will be issued in August. This was disclosed during a meeting of the Water and Sanitation Authority (WASA) chaired by its Vice Chairman Chaudhry Shahbaz Ahmed on Thursday. A detailed discussion also took place regarding various aspects of the Shehbaz Road Sewerage Line project. The project will involve laying a new sewerage line approximately 5,000 feet long, using pipelines with diameters of 36 inches and 24 inches. The neighbourhoods of Bhagatpura, Yathrib Colony, Elahi Town and other adjacent areas will benefit from this development. On this occasion, the Vice Chairman directed the officials present in the meeting to begin the work on the project immediately after the monsoon season. He also emphasised that the local population should be informed in advance to minimise any inconvenience during the construction phase. Copyright Business Recorder, 2025
