PESHAWAR-NWFP Finance
Minister Farid Rahman Thursday presented Rs 45040.41 million
tax free provincial budget for the year 2001-02 with an outlay
of Rs 7986.22 million ADP.
Presenting the budget on Radio and Television Thursday
afternoon, the Finance Minister said, the total revenue
expenditure were Rs 45040.41 whereas the total revenue
receipts were 44067.28 showing a deficit of Rs 973.13 million.
The next year budget had registered an increase of 15 per cent
over the current year's budget estimates. Although no new tax
had been levied in the budget but some of the existing fees
and users charges would be revised, he said and added that a
law amending the West Pakistan Immoveable Property Tax Act was
being promulgated to simplify the property tax assessment,
transparent and people friendly.
He said, the budget estimate was higher by 15 per cent against
the current budget while the gross receipts of the province
were higher by 6 per cent. The revenue assignment from the
shared taxes was estimated at Rs 21458 million.
In the development of Hydel Resources Projects, the
implementation of Malakand 111 Project was a major component
of this programme.
Similarly, priority would be accorded to augmenting food and
agriculture, particularly in relation to value added crops.
Information technology was another area priority, he said and
added that efforts would be made to promote tourism sector by
privatizing the government property located in hill stations.
Pointing towards sectoral strategy adopted in the next year's
budget, the Finance Minister said, highest priority had been
assigned to education with 17.5 per cent allocation, health
with 12.07 per cent, drinking water with 12.25 per cent, roads
with 15.80 per cent, irrigation with 13.12 per cent,
agriculture 3.3 per cent and forestry would receive 2 per cent
of the ADP.
He also announced following steps.
a. Winding up of Provincial Frontier Cooperative Bank
b. Winding up of Fruit and Vegetable Board
c. Winding up of Agriculture Development Authority
