AJK govt presents over Rs 1.39 trillion tax-free budget.

MUZAFFARABAD (AJK) -- The Azad Jammu and Kashmir (AJK) government on Thursday presented over Rs 1.39 trillion people friendly and tax free budget for the next fiscal year 2020-21.

Presenting the budget in the Legislative Assembly, Minister for Finance Dr Najeeb Naqi said total revenue collection for the next financial year had been projected as over Rs 1.15 trillion with capital expenditure estimated at Rs 1.5 billion.

'The government will receive Rs 28.5 billion from tax revenue and FBR (Federal Board of Revenue) taxes, Rs 70 billion state receipts, and Rs. 19 billion on account of other miscellaneous receipts."

The minister said Rs 24.5 billion had been proposed for the Annual Development Programme (ADP), including 72 percent funds for the ongoing projects and 28 percent for the new ones. Some 199 schemes would be accomplished during the next financial year.

Dr Naqi said projecting the Kashmiris cause, maintaining good governance and achieving sustainable development were the topmost priorities of the AJK government.

He thanked the Federal Government for allocating funds for the development of AJK despite financial constraints.

He said a project costing over Rs 3.64 billion for the Indian firing affectees had been incorporated in the federal development programme. About Rs 3 billion had been proposed for the ongoing schemes under the Federal Ministry of Kashmir Affairs, he added.

The minister informed the House that about 640 kilometer long roads connecting the AJK districts with Pakistan would be accomplished in the next financial year. Moreover, work on Authmuqam-Kail Tao Butt Road had been initiated while 725 kilometer long link roads would be constructed during the year.

He said a project costing Rs 5 billion had been included in the development programme to promote tourism and trade activities in the region.

Dr Najeeb Naqi said the AJK government had allocated 72 percent of its budget for the infrastructure development with the main focus on communication, hydropower generation, tourism, education and health sectors.

'Three power projects have been completed during the current financial year while 14.4 megawatt Jheeng Hydel power project is in the last stage of completion. Work on 127 megawatt different hydel power projects would continue during the next financial year,' he added.

The minister said the government had identified hydel power projects with capacity of 9,257 megawatt electricity. 'About 245 megawatt hydel power projects...