QUETTA: The Provincial government has cut rupees 10 billion from development budget to clear pension bill, Balochistan government has to pay rupees 123 billion rupees against pension till 2025 and we have been planning to cover the gap. Advisor to CM for Finance Dr. Ruqiya Hahsmi said.
“To end joblessness, we are going to announce 8000 new vacancies which would be filled on complete merit, while the Balochistan Revenue Authority would be functionalized to increase expedite tax generation that will help to cover the budget deficit.” Advisor to CM on Finance Dr Ruqiya Hahsmi said while addressing post budget briefing on Tuesday.
Secretary Finance Qamar Masood, Additional Secretary Finance Shahzaib, Advisor to CM on information Bilal Kakar were accompanied with Ruqiya Hahsmi.
The Balochisata Government unveiled rupees 352.2 billion provincial physical budget for 2018-19 on Monday. The budget was 7% higher than previous year physical Public Sector Development Program PSDP to get 88.3 billion rupees while 264 billion rupees allocated for non-development projects.
“Education remained on top priority as rupees 12 billion rupees has been allocated to revamp educational structure in Balochistan, as compare with previous year, 10% increase has been set for law and order budget.” She said.
Citing financial woes in Balochistan Dr. Ruqiya Hahsmi said, though we have presented a deficit budget, but we have been planning some strict decision to appease extra expenditures in all government departments,
“Following burgeoning pension bill in the province, we have cut rupees 10 billion rupees from development budget, the sum would be spent on pension investment and plans would be made to cover the gaps.”
Talking on Public Private Partnership Program she said, the Public Private Partnership bill had been approved by provincial assembly, our earnest efforts are underway to gain private sectors’ support in Balochistan.
Replying to a query Secretary Finance Qamar Masood said, government had allocated rupees 60 million rupees in last years’ PSDP, interestingly 66 million rupees were released,
“Balochistan isn’t overdraft province, though we presented deficit budget but after functionalizing Balochistan Revenue Authority, our tax revenue will be par up to 11 billion rupees.”
Citing previous development scheme in PSDP he said, there are ongoing schemes in physical PSDP that are underway since 2004, and major development projects are in priority because we have burden of pension bill.
“till 2025 the pension bill will be reached on 123 billion rupees, in which time-scale and upgradation surcharges also will effect annual financial budget, and it increase 10% of non-development expenditures.” Secretary Finance added.
A project called Balochistan Bank announced during last years’ physical budget has been completely shut during this physical financial budget. Following increasing water shortage in Quetta the provincial government has allocated lavish amount for building new dams.
Dr. Ruqiya Hahsmi said, construction of Mangi Dam with the cost of 09 billion rupees is underway, after completion it would help providing one million gallon drinking water daily for Quetta city,
“To maintain law and order the provincial government has given rupees one and half billion rupees to the Frontier Corps and Pak Army, in 2018-9 budget we have allocated rupees 700 million extra to equip our Police and Levis with modern facilities.” Ruqiya Hashmi added.