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KPK Government Cuts Down its Expenditure by PKR 95 Billion

According to the reports, more than 250,000 posts have been upgraded with an estimated cost of PKR 11.3 billion.

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The government of Khyber Pakhtunkhwa has slashed its increasing expenditure by PKR 95 billion initially with an estimation of PKR 552 billion to PKR 452 billion in the ongoing monetary year.
Taimur Saleem Jhagra, the Finance Minister of Pakistan, said while addressing the media that by cutting the expenses, bringing new financial reforms, and depletion of accountability size had made more funds available for the government to use.
According to the Finance Minister, the pension bills and salaries of the province had been exceeding the provincial budget. He further added that the salaries and pension bills had increased three times more as compared to the past year, from PKR 87 billion to PKR 314 billion.
All the upgrades from the last five years, including regularisation of workers, upgrading numerous posts, and special allowances to a number of people, had increased the provincial expenditure by PKR 26 billion per year.
Mr. Jhagra additionally highlighted the fact that more funds are now available for the provincial development because of the financial reforms.
He stated, “These measures, which were a departure from business as usual, had cost the exchequer Rs26 billion a year.”

Financial Analysis Report: 

According to the reports, more than 250,000 posts have been upgraded with an estimated cost of PKR 11.3 billion.
Apart from that, it has cost the KPK government approx PKR 5.3 billion to regulate a large number of project workers, around PKR 8.5 billion on the allowance of health professionals, PKR 0.5 billion as allowance for government officials; whereas, PKR 0.1 billion have been spent as technical allowance for engineers working in the province.
The Minister of Finance additionally mentioned that the throw-forward accountability had increased significantly from PKR 34 billion to PKR 469 billion in the period of 6-7 years. He said that the current Khyber Pakhtunkhwa government had slashed its expenses from PKR 469 billion to PKR 420 billion, which increased the budget for development to approximately PKR 107 billion.

The idea behind saving more:

As stated by Taimur Saleem Jhagra, an idea was presented in December 2018 that pitched the size of KPK’s development outlay as well as the yearly program of district development at PKR 57 billion.
In order to increase the space for development, the retirement age has been pushed from 60 to 63 years by the government, which eventually saved PKR 20 billion annually.
Other than that, the KPK government has saved a large sum of money by cutting down more than 1,000 projects and reducing throw-forward liability size. As for now, the government is using new and innovative ways to save more and more for the future.

 

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