Khyber Pakhtunkhwa to unveil budget 2024 on May 24 before federal govt

PESHAWAR: In an unprecedented move, the Khyber Pakhtunkhwa government has announced to present the budget 2024 for the FY2024-25 on May 24 before the federal government.

Khyber Pakhtunkhwa Finance Minister Aftab Alam said he will present the budget 2024 on May 24, for which the assembly’s session has been summoned at 3pm.

Alam said that the opposition should talk positively instead of criticizing the upcoming budget. The working relationship between the federal and KP governments is not ideal.

Earlier it emerged that the Pakistan government is likely to end tax exemptions in the FY2024-25 budget on IMF’s demand.

According to budget proposals for the FY2024-25, Pakistan is likely to end exemption on sales and income tax, phase-wise.

The government is also considering imposing a sales tax on tractors and pesticides, potentially leading to price hikes for these essential agricultural products.

Currently, under the Sixth Schedule of the Sales Tax Act, pesticides and their active ingredients registered by the Department of Plant Protection are exempt from sales tax.