July 2007 News

AJK Assembly approves Rs 25.32bn budget

1 July 2007
The Daily Times

Muzaffarabad: The Azad Jammu and Kashmir (AJK) Legislative Assembly has approved tax free budget of Rs 25.32 billion for financial year 2007-08. The development budget has been allocated Rs 7.80 billion from the total outlay of Rs 25.32 billion whereas the budgetary deficit was shown Rs 4.95 billion by decreasing above Rs 600 million as compared to revised budget 2006-7. The non-development expenditure has been earmarked Rs 17.52 billion by increasing Rs 740 million as compared to the current financial year. While winding up the budget meeting 2007-8, AJK Finance Minister Raja Nisar Ahmed told the House that the income from state resources had been estimated Rs 15.23 billion and the deficit would be met with the state resources and the federal government would also assist in this regard. He was of the view that the package of Rs 62 billion, provided by the federal government to compensate people affected by the Mangla dam raising would be disbursed among families along with WAPDA, adding that the latest facilities would also be provided to the affected people. He said a number of projects, worth billions of rupees, were being launched in Azad Jammu and Kashmir with the collaboration of the federal government and international aid agencies. He said the federal government was generously providing funds for the development of the area. He said the opposition was not showing maturity and was not sincere in public affairs. Earlier, AJK Premier Sardar Attique Ahmed Khan said the budget was comprehensive and people-friendly. He said special measures had being adopted to promote state resources and accelerate the income generation. He said, water resources, tourism and minerals were being utilised for strengthening the economy and provision of employment opportunities in AJK. He elaborated that public-private partnership policy was being made in this connection and women were being empowered who were the important segment of society.


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