Sindh CM Murad presents Rs3.056trn budget for FY25

Sindh CM Murad presents Rs3.056trn budget for FY25

Sindh CM Murad presents Rs3.056trn budget for FY25

Sindh CM Murad presents Rs3.056trn budget for FY25

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KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday presented a Rs3.056 trillion budget for the fiscal year 2024-25, proposing up to a 30% increase in government employees’ salaries.

In addition to the salary hike, the budget includes a significant development expenditure of Rs959 billion, making up 31% of the total outlay.

This “balanced” budget primarily focuses on rehabilitating flood-affected individuals and providing social protection for the poor. The majority of the province’s projected revenue comes from 62% federal transfers and 22% provincial receipts.

According to the budgetary document released by the provincial government, additional receipts include Rs22 billion in current capital receipts, Rs334 billion in foreign project assistance, Rs77 billion from the Public Sector Development Programme (PSDP), Rs6 billion in foreign grants, and a Rs55 billion carryover cash balance.

Provincial receipts of Rs662 billion consist of Rs350 billion from sales tax on services, Rs269 billion from taxes excluding GST, and Rs42.9 billion from provincial non-tax receipts.

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These funds are strategically allocated: 63% or Rs1.9 trillion for current revenue, 6% or Rs184 billion for current capital, and 31% or Rs959 billion for development expenditure.

Sector-wise allocations include:

  • Education: Rs519 billion, with Rs459 billion for current revenue expenditure.
  • Healthcare: Rs334 billion, with Rs302 billion for current expenses.
  • Local Government: Rs329 billion.
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  • Agriculture: Rs58 billion.
  • Energy: Rs77 billion.
  • Irrigation: Rs94 billion.
  • Works & Services: Rs86 billion.
  • Planning & Development: Rs30 billion.
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Relief Measures: The budget prioritizes social and economic well-being, particularly in response to recent floods, incorporating several key relief measures:

  • Minimum wage increase to Rs37,000.
  • Rs34.9 billion allocated for pro-poor initiatives.
  • Rs116 billion in subsidies to alleviate financial burdens.
  • Rs25 billion for housing schemes to promote safe and secure shelter.
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New Initiatives: The budget also focuses on long-term development with several new initiatives:

  • Hari Card: Rs8 billion to support 12 million farmers.
  • Inclusive Enclave: Rs5 billion to build a complex offering various facilities in Korangi along the Malir Expressway.
  • Fiscal Decentralization in Police: Specific budgets for 485 police stations to manage fuel, repair, maintenance, and daily expenses.
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  • Solarization Initiative: Rs5 billion for distributing solar home systems over five years.
  • Hub Canal Project: Rs5 billion for constructing a new canal to supply water to Karachi.
  • Mazdoor Card: Rs5 billion welfare program for labourers.
  • Pro-Poor Initiatives: Rs11 billion for agriculture and Rs12 billion for social protection.
  • Additional allocations: Rs3.2 billion for Universities & Boards, Rs2 billion for Housing & Town Planning, and Rs1.5 billion for the Department of Empowerment of Persons with Disabilities (DEPD).
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Grants in Aid: The budget prioritizes human capital investment through significant grants for education and healthcare, totaling Rs190 billion, with Rs35 billion specifically for universities across Sindh.

These grants will also support major hospitals and medical institutes like the Sindh Institute of Urology and Transplantation (SIUT), National Institute of Cardiovascular Diseases (NICVD), Indus Hospital, Sindh Institute of Child Health & Neonatology (SICHN), and trauma centres. This targeted funding aims to strengthen educational institutions and improve access to quality healthcare services for the people of Sindh.

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