MUZAFFARABAD: The Azad Jammu and Kashmir (AJK) government unveiled a tax-free budget for FY2015-16 in the Azad Jammu and Kashmir (AJK) Legislative Assembly on Monday with an outlay of over Rs68 billion, said a report published on Radio Pakistan.
The budget was presented in the House by AJK Finance Minister Chaudhry Latif Akbar who said there has been a 9.5 per cent increase in the new budget for developmental expenditure.
Out of the Rs68 billion budget, an estimate of Rs56.5 billion has been allocated for non-developmental or recurring expenditures and Rs11.5 billion for developmental activities. The report further said that a deficit of over Rs9.4 million will be met by the federal government.
As per the federal government’s announcement, the finance minister also announced an increase in pay and pensions for government employees. While highlighting the priorities of the budget, Akbar said that the focus of the budget has been laid on education, power development, health, tourism and rural development sectors.