On Friday, Sindh Chief Minister Syed Murad Ali Shah unveiled an Rs3.056 trillion budget for the fiscal year 2024-25, marking a substantial increase in development expenditure and proposing salary hikes between 22 and 30 per cent.
This budget dedicates Rs959 billion, or 31%, to development projects, emphasizing enhanced infrastructure and social services. Expected provincial revenues surpass Rs3 trillion, with federal transfers accounting for 62% and provincial receipts for 22%.
Revenue streams also include capital receipts, foreign project assistance, and grants. The expenditure plan allocates Rs1.9 trillion (63%) for current revenue, Rs184 billion (6%) for current capital, and development.
Sector Wise Allocation
Key allocations include Rs519 billion for education, with Rs459 billion for current revenue operations. The healthcare sector is set to receive Rs334 billion, with Rs302 billion allocated for ongoing expenses. The local government budget stands at Rs329 billion.
The budget earmarks Rs58 billion for agriculture, Rs77 billion for the energy sector, and Rs94 billion for irrigation, with respective current expenditures planned. Works & Services and Planning & Development receive Rs86 billion and Rs30 billion, respectively.
Emphasizing social protection, the budget includes Rs34.9 billion for pro-poor initiatives and Rs116 billion in subsidies to reduce the financial strain on citizens. It also proposes a minimum wage of Rs37,000. Salary increases range from 22 to 30 per cent; pensions rise by 15 per cent, and Rs25 billion is allocated for housing schemes.
New Initiatives
New initiatives are set to drive long-term development and economic recovery. These include the Hari Card scheme with Rs8 billion for 12 million farmers, an Inclusive Enclave in Korangi costing Rs5 billion, fiscal decentralization for police stations with a budget of Rs485 million, a Rs5 billion solarization initiative, an Rs5 billion Hub Canal Project to supply water to Karachi, and a Rs5 billion Mazdoor Card program for labour welfare.
Human capital investment is prioritized with Rs190 billion in grants for education and healthcare, including Rs35 billion earmarked for universities and major hospital support.
The 2024-25 Sindh budget reflects a comprehensive strategy aimed at development, social welfare, and economic recovery, illustrating the government’s commitment to its population’s sustained growth and well-being.