LAHORE: Punjab Finance Minister Husnain Bahadur Dreshak presented on Thursday Rs 3,56.171 billion provincial budget for 2007-08 with a revenue surplus of Rs 112.684 billion an enhance allocation to the Annual Development Programme to the tune of Rs 150 billion.

The government estimates to generate Rs 14.598 from the current capital budget and Rs 14.773 from the public account that would raise the total budget surplus to Rs 142 billion. The ADP would be financed through this surplus while the balance amount generated from the foreign loans and grants.

The budget document shows that the hydel power profit from the Ghazi Brotha would swell to Rs 15.97 billion this year as the government had not paid this profit to the Punjab since its commissioning. There was in fact a shortfall of Rs 12.86 billion in the straight transfers from the federal government in 2006-07 out of which Rs 12.75 billion relates to hydel profits.

The province is likely to experience Rs 15.97 billion shortfall in the estimated resources as the matter relating to the Ghazi-Brotha hydel profit is on the back burner. The federal government has shown a lukewarm attitude to the Punjab governmentm which seems in no mood to confront the Centre. The financing of the ADP is likely to pose some problems if the assumption of the government regarding collection of this profit backfires. The federal government in its budget has announcednet transfer of resources worth Rs 236 billion to the province, while the Punjab budget document shows that the provincial government expects to receive Rs 249 billion as total federal transfers.

The revenue expenditure of the province has increased from the previous budgetary estimates of Rs 191.378 billion to Rs 243.48 billion for 2007-08. Thus the expenditure of the Punjab government would increase by around 25 per cent. About 10 per cent of the increase is due to raises in salaries and the rest is increase in other expenditures.

There has been Rs 2.4 billion increase in the Pubic Order and Safety Affairs from the revised expenses of Rs 32.3 billion incurred under this head in 2006-07. The allocations for economic affairs have been increased by Rs 5.4 billion to Rs 23.18 billion.

Allocation for the Housing and Community Amenities have decreased from the previous budgetary estimates of Rs 5.76 billion in 2006-07 to Rs 2.48 for the next year. This was probably due to the fact that only Rs 817 million of the allocation was utilised during the current fiscal year.

The total allocation to agriculture, food, irrigation, forestry and fishing has been enhanced from Rs 10.71 billion to Rs 16.57 billion. The main increase has been made in food that has been allocated Rs 5.88 billion against Rs 976 million this fiscal. This is an increase of around 4.8 billion. The increase in allocation for agriculture is Rs 237 million, for irrigation the increase around Rs 500 million only.

The transfers to local bodies have been increased from Rs 103.6 billion in 2006-07 to Rs 130.35 billion next fiscal year. The provincial government would transfer Rs 106.32 billion to the district governments. This amount is Rs 23.6 billion higher than the outgoing year’s allocation. Of that, Rs 96.96 billion relates to the transfer made under the Provincial Finance Award and Rs 9.36 billion under the tied grants. The allocation for Tehsil municipal administrations (TMAs) has been increased from Rs 12.744 billion to Rs 15.68 billion including Rs 925.64 million tied loans. Union councils would get Rs 4.630 billion in 2007-08 against Rs 4 billion they got this fiscal.

The allocations to cantonment boards have been enhanced from Rs 744.4 million to Rs 874.1 million. The provincial government would disburse Rs 2.850 billion to TMAs as property tax on collection basis.

Wheat trading accounted for 40.12 per cent of the current capital expenditure of Rs 92.544 billion while repayments of commercial Bank loans consumed 31.98 per cent resources under this head. Foreign debt servicing accounts for 2.67 per cent while domestic debt taken from the federal government consumed 11.01 per cent of the current capital expenditure.

http://www.thenews.com.pk/top_story_detail.asp?Id=8498

So the Punjab budget is about US $7 Billion?

btw, do we have the budget figures for Baluchistan and Azad Kashmir? :s

Baluchistan budget will be presented on 20 june. It will be of Rs.70 billion ($1.2 billion).

thanks bro, does Pakistan-controlled Kashmir even have a budget?

lol maybe the question should be does it even have a economy?

I ask because my family hails from Kashmir, although we consider ourselves 100% Pakistani, but alot of
my family is connected with the Pak Army because its the no.1 profession and bread-earner.

I know Pakistan government did alot for Earthquake relief in Muzzafarabad and that did not go unnoticed by
any means, and Midphur seems self-sufficient in many ways with good investment from oversees Pakistanis,
but i mean overall does AK have a economy of any significance? does it have a allocated budget?

http://www.dailytimes.com.pk/default.asp?p...2-6-2007_pg7_31

kashmir does have a budget. it around 25billion ruppes.i dont know much how that is in dollars or pounds.

Thanks for that link!

So that means that if the budget is 25 billion rupees...,

so roughly...

1 Billion Pakistani Rupees = 10 Million British pounds

so we are talking about 250 million pounds (GBP)

thats around (US) $500,000 or half a billion dollars!

btw, is Kashmir a tax-free zone?

and while we are on Kashmir, does anyone know what was the total amount of money gathered in the Earthquake appeal, how many billions? Alot of nations outdid each other to pledge but did they live up to their commitments? grand total?

i ask because according to the article they are only spending 350 Billion Repees over the next year, thats only around (US) $700,000 - not even $1 Million dollars! ?

salam

my brother sardar ..when Kashmir earthquake happened u shud hav seen the spirit of nation ..even small boys gave there sweets and pocket money to effected ..many many people from all over the pakistan gave there money, household itmes, perisheble items for our kashmiri brothers so its nt possible to count all tht to the point ..how ever Pak govt did a lot and also International Aid was given ..my two friends r from azad kashmir and they sya tht dey were given 1 lakh to 3 lakh rs each person depending upon the damage..plus they themselves went there and helped our brothers.. :)

And yes Kashmir does have an economy..And its nt Tax free according to my knowledge..


Allah Hafiz