AJK Council's budget presented

ISLAMABAD (APP) – Minister for Kashmir Affairs Qamar Zaman Kaira Tuesday presented AJK Council’s balanced budget of Rs 6755.55 million for financial year 2009-10.
He also presented revised estimates of Rs5000.127 million for the year 2008-09.
Presenting second budget of AJK Council for the year 2009-10 here, Qamar Zaman Kaira said pay and allowances and pension have been increased of the employees of AJK Council Secretariat while scholarship programme has been launched for Jammu and Kashmir State subjects.
Moreover, presenting current year’s budget, the minister proposed revenue receipts target of Rs6755.555 million for this financial year.
This target includes Rs3850 million from Income Tax collection out of which 80% will be transferred to AJK government.
The development expenditure has been estimated at Rs.2000 million, non-development expenditure at Rs.807.273 millon and 80% net share of Income Tax to be returned to AJK government is Rs.2948.282 million.
Besides, out of the revenue receipts, payment of Rs.800 million as difference of their 80 % net collection of Income Tax for the year 2008-09 and Rs.200 millon as refund of deductions made against the loan of Rs. 1.4 billion will also be made.
The total expenditure has, therefore, been estimated at Rs.6755.555 million for the year 2009-10.
The AJK government fixed the targets of Central Excise Duty, Education Cess, Sales Tax and other Provincial taxes and duties and the proceeds from these taxes/duties are deposited directly into the account of AJK government without deduction of any service charges.
The Council bears the operating expenses of the department from its own budget. It is a matter of pleasure that an amount of Rs.2104.608 million has been realized against the target of Rs. 1591.00 million through the dedicated efforts of our tax collections.