LIVE: KP govt presents Rs1.6 trillion budget for fiscal year 2024-25

PESHAWAR: Government of Khyber Pakhtunkhwa (KP) unveiled the provincial budget 2024-25 at a total cost of Rs1.6 trillion, here on Friday.

As per the details, KP Finance Minister Aftab Alam has presented the budget for the next financial year 2024-25.

The budget includes Rs259 billion for development projects and a 15 percent increase in salaries of government employees. More than Rs70 billion has been allocated for the health department while an additional Rs28 billion has been allocated for health cards.

It is pertinent of mention that Khyber Pakhtunkhwa (KP) government is presenting the budget before the federal government for the first time in the history of Pakistan.

Live: KP Budget 2024-25

A subsidy fund of Rs2.5 billion has been allocated for the BRT system. Existing taxes will be adjusted instead of new taxes. The Finance Department has proposed to increase the BRT fares by up to Rs 10 per stop and allocate 90 percent funds for ongoing projects.

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There are other proposals to reduce property transfer tax from 6% to 3% and impose excise duty on companies buying tobacco. A special cabinet meeting chaired by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur approved the budget, annual development program and finance bill.