Budget 2024-25: Provinces to get Rs7.4tr
Federal transfers to the provinces will rise 37 per cent year-on-year to Rs7.438 trillion during 2024-25. During the next fiscal year, Punjab’s share will be Rs3.69tr, followed by Sindh at Rs1.85tr and that of Balochistan is projected to be Rs667.55 billion. Khyber Pakhtunkhwa’s receivables during the next fiscal year, including 1pc additional as compensation for war-on-terror, will be Rs1.22tr. The distribution of revenues to the provinces is made under the heading of divisible pool taxes and straight transfers, which includes eight taxes levied and collected by the federal government. These are taxes on income, wealth tax; capital value tax taxes on the sales and purchases of goods imported, exported, produced, manufactured or consumed; export duties on cotton customs duties federal excise duties excluding the excise duty on gas charged at well-head and any other tax which may be levied by the federal government.