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Tuesday, June 12, 2012
Sindh unveils Rs 578bn tax-free budgetKARACHI: Sindh Finance Minister Syed Murad Ali Shah on Monday unveiled Rs 577.98 billion tax-free Sindh budget for fiscal year (FY) 2012-13 with Rs 7.166 billion deficit. The new budge has been raised by 21 percent as compared to FY 2011-12. The provincial government has created 80,000 new jobs for the FY 2012-13. Capital expenditure estimates of Rs 31.5084 billion, non-development expenditure estimates of Rs 315.3013 billion and development expenditure estimates of Rs 231.1742 billion have been made. The finance minister announced the budget in his speech at the Sindh Assembly. He said 20,000 jobs would be created through Sanction New Estimate 2012-13. He said, “Under various skill development initiatives, more than 300,000 unemployed youth were trained in various trades to build their capacity and enable them to obtain gainful employment in private sector.” The finance minister said, “The total budgetary outlay is proposed to be Rs 577.98 billion as against Rs 236.2 billion in 2007-08. The total receipts are projected at Rs 570.82 billion.” He said, “Whereas the total expenditure is estimated to be Rs 577.98 billion, resulting in deficit of Rs 7.166 billion”.
Courtesy www.dailytimes.com.pk