PESHAWAR: Caretaker Khyber Pakhtunkhwa Minister for Finance, Ahmad Rasool Bangash here Thursday said that Rs529.118 billion expenditure has been authorized by the provincial cabinet with Chief Minister in a chair for the second four months i.e (Ist November to 29th February 2024), showing 14pc increase as compared to Rs462.939 billion of the first four months (July to October 2023).
Addressing a press conference here, the Minister said that the total expenditure authorized for eight months is Rs992.055 billion for the financial year 2023-24, showing 12pc increase as compared to Rs888 billion of the first eight months of the previous year’s budget.
He said Rs 417billion for the current and Rs112.118 billion for development expenditures of the second four months ie November to February 2024 showed a 19pc increase as compared to the first four months ie Rs350.041 billion current expenditure, was authorized.
The total current expenditure authorized for eight months is Rs767.040 billion in the current fiscal as compared to Rs609.200 billion for the eight months of the last financial year.
He said Rs366.298 billion current expenditure has been authorized for the second four months (Nov to Feb 2024) indicated 26pc increase compared to the first four months (July to October 2023) ie Rs309.498billion for settled areas.
The total authorized current expenditure for eight months is Rs675.796 billion compared to Rs526.533 billion for eight months of the last fiscal for settled areas.
For merged areas, he said the total current expenditure for the second four months is Rs50.702 billion against Rs40.543 billion of the first four months, showing 10pc increase.
He said the total development expenditure authorized for the second four months is Rs112.118 billion compared to Rs112.898 billion for the first four months, showing a 1pc decrease.
For settled areas, the development expenditure authorized for the second four months is Rs91.855 billion compared to Rs92.634 billion of the first four months and Rs20.263 billion for the first four months compared to the same amount authenticated for the first four months for merged tribal districts respectively.
About estimates of receipts, he said that budget estimates for 2023-24 under federal transfers are Rs895, 144.91 million while receipts for four months July-October 2023 is Rs292, 244.39 million and receipts for the second four months ie November-February 2024 is Rs298, 381.64 respectively.
The net hydel profit budget estimates for 2023-24 is Rs81, 961.19 million while receipts for the first four months are Rs28, 357.43 million and the second four months is Rs27, 320.37 million.
He said 10pc of the allocated funds would be released to ongoing schemes at the start of the financial year and there is a complete ban on new schemes.
He said 25pc releases shall be made to medical teaching institutions on a monthly basis. He said a Rs2 billion release was under process to State Life for Sehat Card.
Rasool Bangash said there was a complete ban on the creation of new posts excluded completed development projects and the purchase of vehicles except ambulances etc.
Caretaker Information Minister Feroz Jamal said that there was no proposal at the moment regarding the deduction or withdrawal of allowances from the salaries of Government employees. He ruled out the possibility of imposition of financial emergency in the province.
He expressed the hope that the financial position of the province after receiving all the amount pending against the federal Government would be improved.
Feroz Jamal said that 60, 000 undocumented immigrants have returned to their home countries and federal Government policy would be implemented after the expiration of the October 31 deadline. Funds to BRT and Sehat Cards would be released on a priority basis, they added.