ISLAMABAD, July 6: A Rs4.4 billion budget of the Azad Jammu and Kashmir Council for 2007-08 was presented here on Friday. The budget session of the AJK Council was presided over by AJK President Raja Zulqarnain Khan in his capacity as the ex-officio vice-chairman of the council.

The Minister Incharge, Azad Jammu and Kashmir Council Secretariat, Tahir Iqbal, besides unveiling budget for the next fiscal also presented revised estimates of Rs2.925 billion for the year 2006-07.

He said the receipts target had been proposed at Rs4.442 billion, including Rs3.5 billion to be received under the income tax. The development expenditure has been estimated at Rs1.05 billion and non-development expenditure at Rs459.085 million.

He said Rs1.25 billion had been realized up to June 30, against the target of Rs810 million.

The AJ&K Council Secretariat proposes a development outlay of Rs1.05 billion for the financial year 2007-08.

The minister said this year three major projects – construction of the AJK Council Secretariat’s office building and AJK Council’s lodges worth Rs350 million and a multipurpose building at Lahore for housing girls vocational/Kashmir centre costing Rs150 million – were being launched.

Mr Iqbal said the AJK Council had proposed an increase in the pay and pension of its employees as well upgradation of the clerical staff from July 1 on the lines of the Pakistan government which had allowed a 15 per cent and 15-20 per cent increase in pay and pension of its employees, respectively.

The raise, he added, would cost the council’s budget Rs26 million.

Giving a brief account of the past year’s budget, he said the AJK Council had fixed a Rs3.575 billion revenue target for 2006-07. “We have been able to achieve Rs3.798 billion against the total revenue target.”

He said the income tax target was Rs2.8 billion against which Rs3.4 billion had been collected up to June 30.