All attention is focused on the impending budget as government workers in Peshawar anticipate salary increases amidst steep inflation rates.
The budget session for FY25, summoned by KP Governor Faisal Karim Kundi, is scheduled for May 24. Expectations are high for the government to raise salaries and pensions to offset the impact of inflation and the rising cost of living, considering the significant number of individuals dependent on these payments.
The proposed budget for the upcoming financial year stands at Rs1,754 billion, with Rs200 billion earmarked for the annual development program.
Regarding salary updates in Budget 2024-25, sources indicate a proposed increase of 10 to 15 percent for government employees in KP.
The KP finance department has forwarded budget and annual development program proposals to Chief Minister Ali Amin Gandapur for approval.
The chief minister will review and finalize the budget before its presentation at the provincial cabinet meeting tomorrow.
Provincial Finance Adviser Muzammil Aslam has provided updates, stating that there are no intentions to levy taxes in Malakand Division and the merged tribal districts in the upcoming budget. He emphasized that decisions regarding taxation will involve consultations with local elders and elected assembly members. Additionally, he stressed the need for the federal government to consult the provincial government before imposing taxes in these regions.
The provincial finance adviser also announced positive news regarding salary increases and pensions for government employees in the new budget.
Reports suggest reductions in property tax rates for the current year and the imposition of a provincial excise duty on tobacco.
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