AJK govt announces Rs220 billion budget with Rs44 billion development outlay

WEB DESK: On Tuesday, the Azad Jammu & Kashmir (AJK) government unveiled its budget for the financial year 2024-25, totaling over Rs220 billion. This includes a development allocation of Rs44 billion.

AJK Finance Minister Abdul Majid Khan presented the budget during a session of the AJK Legislative Assembly, which was chaired by Speaker Chaudhary Latif Akbar.

In his presentation, Minister Abdul Majid Khan highlighted the key aspects of the budget. The total estimated income is projected at Rs201.17 billion, with significant contributions from federal grants and inland revenue. The development expenditure for the fiscal year is set at Rs44 billion.

The minister detailed that the total receipts are estimated at Rs201.17 billion. This includes Rs105 billion anticipated from the federal government under the Federal Variable Grant, Rs75 billion from inland revenue, Rs15 billion from electricity, and Rs0.45 billion from the Forest Department.

Additional revenue exceeding Rs20 billion is expected from various sources, including the AJK Transport Authority, Armed Services Board, Law and Order (Administration of Justice), Police (Interior), Prisons, Communication, Roads, Education, Health, Food, Agriculture, Wildlife/Fisheries, Livestock and Dairy Development, Printing Press, Industries, Silk, Minerals, Tourism, and other sectors.

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