Over Rs. 49.59 bln tax-free AJK budget 2012-13 announced

Muzaffarabad:The Azad Jammu Kashmir government Wednesday announced a total of Rs. 49.59 billion revenue-oriented tax free budget for next fiscal 2012-13, with revenue expenditures totaled to be around Rs. 40,050.00 million and deficit of Rs. 5100.0 million.

The budget was announced by AJK Finance minister Chaudry Pervaiz Ashraf in AJK Legislative Assembly which met in Muzaffarabad. “An amount of Rs. 9547.036 million has been allocated for development sector with Rs. 40,050.00 million recurrent budget for the next fiscal year,” he informed the House.

The AJK assembly was told that the development budget has been increased to 15 percent, compared to the financial year 2011-12.