Karachi: Pakistan People’s Party (PPP)-led coalition government of Sindh presented its fifth budget for the year 2012-13 on Monday with a total outlay of Rs 577.98 billion as against Rs 236.2 billion in 2007-08.
Presenting the budget in the Assembly, Provincial Finance Minister Syed Murad Ali Shah said that the total receipts are projected at Rs 570.82 billion whereas the total expenditure is estimated to be Rs 577.98 billion, resulting in a deficit of Rs 7.16 billion, despite a healthy 18 % estimated increase in revenues, APP reported.
He said that the deficit is solely due to the massive jump in development portfolio which has been proposed at a historic Rs 231 billion up from Rs 164 billion in 2011-12.
The figure includes ADP of Rs 181 billion, Rs 14.5 billion for federal projects and Rs 35.7 billion foreign project assistance.
He said that the estimated revenue receipts for the financial year 2012-13 from the federal divisible Pool are Rs 314.36 billion. This is 24.8 % higher than the Budget Estimates of fiscal year 2011-12.
Receipts under straight transfers are estimated at Rs 59.25 billion which is an increase from last year’s budget estimate of Rs 53.4 billion.
The provincial government has allocated Rs 111.96 billion including ADP of Rs 12.39 billion for education in the budget 2012-13, which is 50% increase from the allocations of the outgoing fiscal year.
The minister said the allocations for education constitute 20% of total budgetary outlay which reflected government’s strong commitment to the development of education sector.
The total funds allocated under Sindh Education Reform Programme has been enhanced by 33% to Rs 9.62 billion as against Rs 7.38 billion provided in 2011-12.
For welfare projects of Special Education, the minister said Rs 550 million were proposed which include up-gradation of 5 Special education institutes at divisional headquarters as centre of excellence and establishment of taluka level special education centres.
The minister said that government had created another 8000 vacancies in the education department.
Provincial own receipts including sales tax on Services are estimated at Rs 96.63 billion which is 21 % higher than last year.
On the expenditure side, the current revenue expenditure for financial year 2012-13 has been estimated at Rs 315.3 billion which is only slightly higher than the Revised Estimate of Rs 309.45 billion for 2011-12.
This reflects Sindh Government’s resolve to curtail expenses through fiscal discipline.
In line with the increase in salaries announced by the federal government, a pay raise in the shape of ad-hoc relief allowance at the rate of 20% of basic salary is proposed in Sindh budget as well.
Similarly, to mitigate the financial difficulties of the pensioners they would also be granted 20% adhoc relief.
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