QUETTA: Finance Minister of Balochistan Mir Zahoor Ahmed Buledi will announce the budget for 2019-20 in the Baluchistan Assembly today.
The total expenditure of the budget is estimated to be almost Rs390 billion with division of about Rs95bn for the Public Sector Development Programme (PSDP). In the budget for 2018-19 the shortfall was Rs61.9bn in the PSDP of Rs88.2bn.
Sources said that Rs295bn would be allocated for non-development expenditures. If there was a big difference between the province’s income and expenditures the budget would be unsatisfactory.
The Baluchistan government has decided to finance in industry, tourism, fishery, mine and mineral and some other sectors which can accelerate revenues as it wants funds for development projects.
According to sources, the provincial government would assign Rs40bn for maintenance of law and order, Rs60bn for education, and Rs25bn for health sector.
By injecting money in the revenue generating mechanism of the province, the financial managers of the Balochistan government were hoping to earn Rs20bn.
According to an official of the province’s finance department, the government has already planned to announce tax reforms for increasing the province’s revenue and in this connection the government can increase some provincial taxes. He said in the next financial year 6,000 new jobs would be created in different departments.