Rs108bn to be spent on development: Buledi.

QUETTA -- Balochistan Finance Minister Mir Zahoor Ahmed Buledi said on Sunday that the provincial government despite facing a huge gap between its receipts and expenditures had allocated Rs108.2 billion for development in the next financial year`s budget.

Addressing a post-budget press conference, he said the government would complete 2,693 ongoing and new development projects during the financial year 2020-21.

He said Balochistan would face a budget deficit as its share in federal resources had been slashed. `Our share has been reduced as the Federal Board of Revenue could not achieve its revenue target in the wake of coronavirus and other reasons,` he added.

`Balochistan received less than its projected share in the current financial year, while it was informed that the federal government will reduce its share in the NFC award by around Rs30bn during the next financial year,` Mr Buledi said.

The minister said that the provincial government was taking steps to increase its own resources by enhancing different duties and it had already imposed taxes and was developing income-orientated government sectors.

He said the government was also making investment in different sectors to generate resources to bridge the budget deficit.

He said the pension bill of the Balochistan government was increasing every year so it had invested around Rs64bn to bear this burden. Mr Buledi said the government would introduce a health insurance scheme and had allocated Rslbn for it in the new budget. It has also invested Rs3bn for the socio-economic sector.

He said Rs49.490bn had been allocated to complete the ongoing schemes and Rs56.590bn would be spent on new development schemes during the next financial year.

`We are giving attention to equal development of all districts of the province and providing funds to the...