GILGIT: The Gilgit Baltistan government has announced a budget of over Rs116 billion for the next fiscal year 2023-24.
The budget was presented in the Assembly by Gilgit Baltistan Finance Minister Javed Ali Manwa on Monday.
For the new financial year, a significant portion of Rs74 billion have been allocated to non-developmental expenditure, while Rs28.45 billion have been dedicated to development expenditure. Furthermore, a proposal has been made to allocate Rs13.70 billion for a wheat subsidy.
During the budget presentation, the finance minister revealed a substantial increase of 35 percent in the salaries of government employees up to grade 16, and a 30 percent raise for employees from grades 17 to 22. This move is expected to boost the morale of the workforce.
Significant allocations have also been made for various sectors. Over one billion 37 crore rupees have been designated for improving the healthcare system, while more than 1 billion 57 crore rupees have been set aside for education.
Additionally, 45 crore rupees have been allocated for agriculture, animal husbandry, and fisheries, while 4 billion 17 crore rupees have been proposed for the power sector.
Other sectors receiving budgetary allocations include irrigation, with over 24 crore rupees, physical planning and housing, with 1 billion 33 crores, communication systems, with 3 billion 46 crores, and IT, with a proposed allocation of 28 crore 53 lakh rupees.
The approval of the budget proposals for the next fiscal year took place during a Gilgit-Baltistan cabinet meeting in Gilgit, which was presided over by Chief Minister Khalid Khurshid. The budget is expected to drive growth and development in the region. APP
