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AJK Assembly Approves Over Rs 141 billion Surplus Budget

Azad Jammu and Kashmir (AJK) Legislative Assembly approved the state’s surplus budget for fiscal year 2021-22 within hours of its presentation by Finance Minister Dr. Najeeb Naqi, while suspending regulations controlling the subject.

The fifth and last budget of the PML-N government projected an income of Rs 114.4 billion from various internal and external sources for the following fiscal year, with Rs 113.4 billion recommended for recurring expenditures and Rs 1.018 billion for the overdraft adjustment.

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The finance minister stated that a government’s budget reflected not just its income and expenditures, but also its national resources, objectives, creative ability, and future planning.

According to him, 66 percent of development funding had been set aside for the completion of approximately 176 ongoing projects, with the remainder earmarked for 209 new endeavours during the following fiscal year.

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The infrastructural sector would receive 68 percent of the development funding, followed by the social sector with 22 percent and the productive sector with 10 percent.

Despite its own fiscal troubles, the minister complimented the federal government for allocating considerable development funding for AJK.

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