KARACHI: The provincial government of Sindh is all set to present the over Rs1,600 billion budget for the fiscal year 2022-23 today (Tuesday), which will see an enhancement in the allocations for various sectors as compared to the last year
Sindh Chief Minister Murad Ali Shah will present the budget as he holds the portfolio of Sindh’s finance minister as well.
The budget will include a development layout of at least Rs250 billion, an allotment of Rs32 billion for district development and a 15% salary increase.
Sources within the Sindh finance department said that an amalgamation of ad hoc allowance with the basic salary is likely to be announced with the provincial budget and the Sindh government will also enhance the conveyance allowance for government employees, as provided in the federal budget.
With a 6% increase, the health sector’s budget would be around Rs19 billion, while the education would see an allocation of Rs28 billion which is a 6% increase from that of the last year. The grant of 25 public sector universities could be increased up to 5%. At least Rs2 billion will be announced for small traders for loans from Sindh Bank and Rs3 billion have been sanctioned for the subsidy on fertiliser, seeds and pesticides.
Over Rs18 billion would be allocated for Benazir Income Support Program and a big relief package for the Information Technology (IT) sector will also be announced. On Monday, it was officially confirmed by Sindh Chief Minister Syed Murad Ali Shah that the Sindh government has proposed no increase in the allocations for the IT, transport, and agriculture sectors.
CM Shah has announced relief to the IT industry by reducing the rate of Sindh Sales Tax on IT, software business and call centres from 13% to 3% without the input tax credit.
However, large establishments prefer a standard rate with an input tax credit, they shall have the option of 13% with input tax credit facilities. The CM announced this while speaking at a seminar organised by Sindh Information Science and Technology department and Pakistan Software Export Board & [email protected]