Punjab presents Rs5.4tr budget for next fiscal year

Punjab finance minister says no new tax has been levied in finance bill

By Business Desk
June 13, 2024
Punjab Finance Minister Mujtaba Shuja-ur-Rehman is presenting a budget in the provincial assembly on June 13, 2024. — Screengrab/YouTube/GeoNews

Punjab Finance Minister Mujtaba Shuja-ur-Rehman presented Rs5.4 trillion budget for fiscal year 2024-25, saying no new tax has been levied in finance bill.

He said revenue collection will be increased by 50% through other means and the next Annual Development Programme will be of Rs842 billion.

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He said as many as 77 new mega projects will be part of the ADP, while the revenue target for next fiscal year set at Rs960 billion, reported Radio Pakistan.

The Punjab finance minister said minimum wages were enhanced from 32,000 to 37,000 in the budget and the salaries of government employees will be increased by up to 25%.

He said Minority Development Fund has been increased by Rs1 billion for first time and Rs6 billion were earmarked for laptop scheme while Rs5 billion for the Pakistan Kidney and Liver Transplant Institute Endowment Fund.

He said inflation rate has been brought down to 11.8% and significant reductions are being made in government expenditures.

The provincial minister said revolutionary measures were being taken in the health sector in Punjab, and free Wi-Fi facilities have been provided at several locations in Punjab.

The Punjab finance minister aid that solar panels will be provided to electricity consumers using hundred units and easy loans will be provided to those building houses up to five marlas.

Earlier, Punjab cabinet approved the tax-free budget for next fiscal year at a meeting presided over by Chief Minister Maryam Nawaz in Lahore today.

Addressing the meeting, the CM said all out efforts will be made for fulfillment of our promises made with the people.

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