Khyber Pakhtunkhwa Minister for Finance Aftab Alam presented the annual budget for the fiscal year 2024-25, amounting to Rs. 1,754 billion, showcasing a surplus of Rs. 100 billion.
In a surprising move, the KP assembly unveiled its budget prior to the federal budget announcement, expected on June 7.
During the budget speech in the assembly, Minister Alam disclosed that the Khyber Pakhtunkhwa government anticipates expenses of Rs. 1,654 billion for the fiscal year. He emphasized that the budget, guided by Chief Minister Ali Amin Gandapur’s directives, prioritizes social protection, peace, employment opportunities, and economic development. Notable proposals include a 10 percent increase in salaries and pensions for government employees, and raising the minimum wage from Rs. 32,000 to Rs. 36,000.
Regarding revenue projections for FY25, Minister Alam outlined expectations of Rs. 1,754 billion from various sources, including Rs. 1,212 billion from the federal government under Federal Tax Assignment. The province aims to achieve Rs. 93.5 billion in revenue for the fiscal year through a mobilization plan.
Minister Alam emphasized that the budget is not merely a financial document but also serves as a developmental roadmap, reflecting the government’s commitment to social justice and gender equality, aiming for the province’s overall prosperity.
