PESHAWAR - In the wake of huge budget deficit and lack of financial resources, the Khyber Pakhtunkhwa government has planned to get loans of 50 billion rupees for various developmental schemes of both settled and merged districts of the province.
Reliable sources told The Nation that the amount would be spent for 68 developmental schemes of settled districts and nine developmental schemes of merged districts. The government has proposed to earmark 13 billion rupees for 15 projects of multi-sector development projects.
The upcoming budget of 2020-2021 will earmark Rs 10 billion for water supply schemes while one billion rupees would be spent on sanitation services and for local government projects rupees two billion have been proposed.
For seven projects of elementary and secondary education, seven billion rupees have been proposed while for six projects of power and energy rupees six billion would be earmarked. Likewise, for three projects of health department rupees 714 million would be allocated in the upcoming budget.
For three developmental projects of industrial sector development rupees 700 million would be spent from the borrowed amount. One billion rupees will be allocated for the finance department while for science and information technology rupees 289 million would be allocated.
Out of these foreign loans, the government have also included nine schemes of merged districts for which summary have been moved to the finance department for approval.
Besides, the government has already taken loans of rupees one trillion from the World Bank, Saudi Fund for development, ADB, IDA in previous budget of 2019-2020.
On the other hand, Provincial Minister for Finance Temoor Saleem Jhagra told media persons that there is no burden of loans on the provincial government and the upcoming budget would have no new taxes on business community while 10 billion rupees would be spent on Sehat Insaf card.
He said that funds also have been allocated for corona testing kits and laboratory equipments.
