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Sindh CM unveils ambitious Rs3.056 trillion budget for FY 2024-25

By News Desk

June 14, 2024 08:20 AM


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Sindh Chief Minister Friday presented the Rs3.056 trillion provincial budget for fiscal year (FY) 2024-25 with a focus on salary increase and ongoing development projects.

Sindh Unveils Ambitious 3.056 Trillion Rupee Budget for FY 2024-25

Sindh Chief Minister Syed Murad Ali Shah presented the budget emphasizing rehabilitation for flood-affected individuals and social security for the underprivileged.

Key Highlights:

Significant Salary and Pension Increases:

Salaries have been increased by 22-30%.

Pensions have been raised by 15%.

Major Allocations:

Development expenditure proposed at 959 billion rupees, accounting for 31% of the total expenditure.

Total expected income for the province stands at 3 trillion rupees.

Federal and Provincial Contributions:

Federal transfers constitute 62% of the income.

Provincial receipts account for 22%.

Revenue Sources:

Provincial receipts include 662 billion rupees, with sales tax on services contributing 350 billion rupees.

Additional revenue sources include 22 billion rupees from current capital receipts, 334 billion rupees from foreign project aid, and 77 billion rupees from PSDP federal grants.

Budget Allocations by Sector:

Education: 519 billion rupees, with 459 billion for current revenue expenditure.

Health: 334 billion rupees, with 302 billion allocated for current expenses.

Local Government: 329 billion rupees.

Agriculture: 58 billion rupees, including 32 billion for current expenses.

Energy: 77 billion rupees, with 62 billion for ongoing expenses.

Irrigation: 94 billion rupees, with 36 billion for current expenses.

Works and Services: 86 billion rupees.

Transport: 56 billion rupees.

Social Welfare: 34.9 billion rupees.

Subsidies: 116 billion rupees to alleviate the financial burden on citizens.

Development Initiatives:

493 billion rupees allocated for the provincial Annual Development Programme (ADP).

334 billion rupees earmarked for foreign project assistance.

55 billion rupees set aside for district ADP.

25 billion rupees for housing schemes to ensure safe shelters.

Significant investment in social services, particularly education and health.

New Measures:

Introduction of the Hari Card with 8 billion rupees to support 12 million farmers.

5 billion rupees for the construction of an enclave complex at Malir Express Korangi, providing comprehensive services including education and medical facilities.

Specific budget allocation for 485 police stations for the first time.

Solarization initiative with a 5 billion rupee budget over five years.

Construction of a new canal like Hub Canal to supply water to Karachi, funded with 5 billion rupees.

Labour card scheme allocating 5 billion rupees for labourers.

11 billion rupees for agriculture, 12 billion for social security, and 3.2 billion for universities and boards.

2 billion rupees for housing and town planning, and 1.5 billion for DEPD.

Grants and Aid:

Major grants totaling 190 billion rupees.

35 billion rupees allocated for universities across Sindh to enhance educational institutions and improve access to quality health services.

Chief Minister Murad Ali Shah emphasized that the budget aims to document the economy, reduce poverty, and provide substantial relief to all economic classes. The budget underscores the government’s commitment to sustainable development, economic growth, and social welfare.

"This balanced budget is designed to meet the needs of the people of Sindh and address the challenges faced by the province. Our focus remains on rehabilitation, social security, and the upliftment of every citizen," stated Chief Minister Murad Ali Shah.

 

Reporter: Aijaz Jamal


News Desk


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