KP Budget 2024-25: Govt's big decision regarding hotel, restaurant and marriage hall
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00:00 "During the budget preparation, the provincial government kept in mind the daily schedule of budgetary planning. The finance department, along with the planning committee, held a joint review meeting of all the committees.
00:25 The budget also focused on improving the quality of public services.
00:31 The budget also highlighted the business and industrial sector for the development of the province's economy.
00:39 The minister, Khyber Pakhtunkhwa Ali Amin Khan, highlighted the social security, security, employment and economic development.
00:55 Mr. Speaker, the budgetary planning is very important.
01:01 If I say that the budget starts with income, then I am not wrong.
01:07 Mr. Speaker, income is divided into two parts.
01:12 One is what the province earns, and the other is what is received in different amounts through the welfare system.
01:20 The majority of the income is received by the province through the welfare system.
01:26 Mr. Speaker, I now inform this honorable person about the necessary amount of welfare.
01:35 This includes the pure benefit of electricity, royalties, the amount allocated for the NFC share, and windfall levy.
01:49 Mr. Speaker, it is very important to mention the necessary amount for the NFC award for the NFC share.
01:57 After the NFC award, the annual share of the NFC share is 262 billion rupees.
02:10 However, the province has received only 123 billion rupees in this period.
02:15 Because of which, Khyber Pakhtunkhwa is facing a loss of 149 billion rupees annually.
02:22 Mr. Speaker, under the formula of the NFC award, the government is obliged to pay the province.
02:34 But every year, the government receives less than its share.
02:41 Due to the government's failure to pay the government's obligations, the province's share of the NFC share has exceeded 78 billion rupees.
02:56 Under the Agn Kazi formula, which is approved by the Lawazi CCI, i.e. the Council of Common Interest, the government is obliged to pay more than 18 billion rupees in the period of 30 June 2024.
03:13 Mr. Speaker, according to the Petroleum Policy of the Vifa Government, oil-seeking and production companies are obliged to pay windfall levy on more than 40 dollars per barrel.
03:32 This levy is distributed between the Vifa Government and the province in proportion to equality.
03:38 Despite the clear doubts of the Petroleum Policy of 2012, Khyber Pakhtunkhwa is obliged to pay 46.82 billion rupees in oil-seeking and production costs.
03:53 Mr. Speaker, now I would like to inform the respected public about the province's income.
04:02 In the past few years, Khyber Pakhtunkhwa has increased its income.
04:09 The Revenue Mobilization Plan has been made for the next financial year, under which the target of 93 billion and 50 crore rupees has been set.
04:19 Our government is paying more attention to increasing the tax net than increasing the tax rate to increase the provincial income.
04:29 Many reforms have been taken in this period, including sales tax, property tax, tobacco cess and other reforms.
04:41 According to the Khyber Pakhtunkhwa Revenue Authority, there is a lack of sales tax on services in the various categories.
04:52 Sales tax has been reduced by 6% on hotels and the use of restaurant invoice management system has been made mandatory for all hotels.