Peshawar June 19 2021: KPK government has announced Provincial budget for fiscal year 2022 with an outlay of PKR1,118 billion with zero surplus.
Out of the total expenditure, PKR374 billion has been allocated for Salaries,PKR92.1 billion for pension, PKR203.9 billion for District administration, PKR371 billion for development budget and PKR77.4 billion for other expenditures.
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Under the development head, PKR244.6 billion is for provincial Annual Development Fund (ADP), PKR17.4 billion for Devolved ADP, PKR89.2 billion for Foreign Development Assistance and PKR19.9 for Public Sector Development Spending (PSDP).
Majority of the revenue receipts came from Federal Transfers that amounts to PKR732.9 billion while PKR75 billion is estimated to arrange through provincial tax collection which is 43 percent higher when compared to provincial revised tax collection target of PKR52.4 billion. Rest of revenue receipts came in the shape Foreign Project Assistance and Grants for the merged tribal districts.
In order to achieve aggressive provincial tax collection target of PKR75 billion, KPK government is transitioning more than 10 services to online e-payment application, introducing quarterly/advance filing for reduced rate taxpayers, further reduction in tax rate for installation of Point of Sale System, Mobile user friendly interface for effective communication and tax harmonization to mitigate selective information sharing.
Reduced Sales Tax of one percent on Print Media, Agriculture Cold Storage and Warehouse, Industrial Workshops, Quality Assurance and Inspection, Cinematographic Services, Car Wash, Auctioneers, Property Dealers, Installation and Commissioning and Under Writers.
