Federal govt proposes hike in GB development budget for next fiscal year

Islamabad: The federal government has begun preparations to increase Gilgit-Baltistan’s development budget in the upcoming fiscal year.

According to budget documents, a 27.32 per cent increase has been proposed in the federal development allocation for Gilgit-Baltistan compared with the revised development budget for the current financial year. Compared with the original allocation, the proposed increase stands at 5.26 per cent.

The documents reveal that more than Rs39 billion has been proposed for Gilgit-Baltistan’s development budget in the next fiscal year, while Rs30.67 billion has been allocated under the revised development budget for the current year.

According to the documents, the current fiscal year’s development budget for Gilgit-Baltistan was set at Rs37.10 billion.

For the upcoming fiscal year, Rs23 billion has been proposed under the Block Allocation/Annual Development Programme (ADP), while Rs4 billion has been earmarked under the Prime Minister’s Special Package.

In addition, Rs2.20 billion has been proposed for the construction of the 16MW Naltar Hydropower Project, Rs1 billion for the establishment of a regional grid, and Rs1.71 billion for solar power projects at various locations.

Funds have also been proposed for drainage, road infrastructure and water supply schemes across Gilgit-Baltistan, as well as for the construction of hospitals and healthcare facilities.