PESHAWAR: The KP cabinet on Friday approved the budget for the financial year 2023-24 to be presented in the upcoming session of the assembly.
The special cabinet meeting chaired by Chief Minister Ali Amin Gandapur via video link also approved revised estimates for the Financial Year 2022-23, essential expenditures for the current month of May (till May 31) and the budget strategy for the next financial year (2024-25) after comprehensive discussions.
Budgets for the financial year 2022-23 (revised) and 2023-24 could not be approved from the assembly as affairs of the province were run and administered by the caretaker government in the absence of the assembly. The financial requirements of the province were approved from the cabinet with different intervals as per the constitution. The constitution requires that these decisions and expenditure shall have to be now presented before the assembly after approval of the cabinet.
The chief minister outlined the government’s steadfast commitment to farmer-friendly policies, citing the retention of Rs12 billion within the province instead of allocating it to PASSCO for wheat procurement. This decision underscores the administration’s dedication to empowering local agricultural communities and retaining financial resources for indigenous development initiatives.
Highlighting the significance of revenue generation, the chief minister directed all concerned departments to focus on increasing their income streams and optimizing the utilization of assets. He emphasized the imperative of transitioning to online tax collection systems for enhanced efficiency and effectiveness.
“It is our foremost priority to bolster provincial revenue streams rather than relying on external loans,” stated the Chief Minister, underscoring the government’s commitment to financial self-sufficiency.
Addressing employment generation and industrial development, the chief minister outlined plans to shift focus from traditional employment avenues to entrepreneurship. Soft loans will be extended to empower the youth in establishing their businesses, thereby fostering economic growth and job creation.
During deliberations on developmental portfolios, the chief minister reiterated the government’s investment in human development, with a primary focus on income-generating projects. Priority will be accorded to initiatives benefiting a broad spectrum of the population and fostering regional development he said.
He underscored the importance of formalized documented engagement with the federal government regarding Public Sector Development Program (PSDP) projects. Highlighting the prioritization of projects pertaining to law and order and security, he emphasized their preferential inclusion in foreign-funded initiatives. Additionally, the he reiterated the government’s commitment to timely allocation of funds for essential healthcare requirements, including the procurement of medicines in government hospitals.
