| Karachi: Sindh Chief Minister Syed Murad Ali Shah, who is also the Finance Minister, presented the budget for the fiscal year 2023-24 in the Sindh Assembly with a total outlay of PKR 2.24 trillion, according to news published in a leading newspaper on June 10.
Read: Sindh Budget 2022-23: Tax relief announced for IT sector
As per the details, the CM announced a 35% hike in salaries for Sindh government employees between grades 1 and 16, while employees between grades 17 and 22 will receive a 30% increase. Pensions will be increased by 17.5%, and the minimum wage will be raised from PKR 25,000 to approximately PKR 35,550.
The major allocations in the budget 2023-24 are as follows:
PKR 312 billion has been allocated for Education
PKR 214 billion has been set aside for Health
PKR 143 billion will be allocated for Law and Order
PKR 25.70 billion has been allotted for Irrigation
PKR 1.24 billion has been reserved for the IT Sector
Read: Sindh Budget 2021-22: Funds reserved for Karachi’s 19 mega projects
PKR 23.47 billion has been earmarked for Works and Service
PKR 13.4 billion has been allocated for the Transport sector
PKR 10 billion will be used for Livestock and Fisheries
PKR 5.69 billion has been set aside for Social Welfare and Protection
PKR 88 billion has been allocated for Local Councils
Furthermore, the provincial government has decided to rationalize various tax bases to protect the underprivileged segments from unnecessary financial burdens. This measure involves taxing the privileged segment to generate revenue, simplifying provisions to reduce the compliance burden, and providing tax relief to individuals and businesses.
The total development budget has been estimated at PKR 689 billion, with PKR 410 billion allocated for development schemes and PKR 380 billion reserved for the Annual Development Program (ADP). The government also plans to allocate PKR 13.4 billion to the transport sector, which marks a 92% increase from the previous budget, and provide fare subsidies for the Sindh Intra District Peoples Bus.
Regarding law and order, an allocation of PKR 160 billion has been proposed, including funds for combating dacoits and establishing a forensic laboratory. Additionally, provisions have been made for rain and flood victims, mega projects in Karachi, and the works services department.
Read: Sindh Budget 2020-21: Funds allocated for Greater Karachi Water Supply Project
The Education Department will receive PKR 353 billion, with plans to appoint 1,500 lecturers through the Sindh Public Service Commission. Furthermore, the budget includes funds for the construction of new colleges, grants for public universities, and the restoration of flood-damaged schools.
The Health Department’s development budget is set at PKR 20 billion, and significant allocations have been made for livestock and fisheries activities. Other provisions include funds for reforestation, wheat subsidy, and a social protection and economic sustainability program.
Sales tax collection is estimated to amount to PKR 235 billion, with excise and taxation contributing PKR 143 billion. Non-tax revenue is expected to stand at PKR 32 billion, and PKR 21.9 billion will be received for the Public Sector Development Programme (PSDP).
Read: Budget 2023-24: Govt proposes budget with PKR 14tr outlay
Overall, the Sindh budget 2023-24 focuses on development schemes, relief measures, and addressing the needs of various sectors to promote growth and improve the well-being of the people in Sindh. |
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