Punjab caretaker govt to present budget today

LAHORE: Caretaker Punjab government has called the cabinet meeting on Monday (today) for approval of the provincial budget for fiscal year 2023-24, with an estimated total outlay of Rs1,368 billion.

After the cabinet nod, the caretaker government ministers would announce the budget in a press conference.

According to the official budget documents, the caretaker government has allocated Rs426.87 billion for the ongoing development schemes, which were approved by the previous Punjab Assembly, while Rs941.34 billion has been earmarked for the current expenditures.

The caretaker setup is also going to increase the salaries and pension in the province in accordance with the announcement, made by the federal government in the federal budget, i.e. 17.5 per cent increase in pension, 35 per cent increase in salaries of grade I to 16 and 30 per cent increase of grade 17 to 22.

The total allocation for the salaries and pensions and other expenses of the government employees is proposed Rs413 billion. The increase in salaries and pensions of government employees will put an extra burden of Rs42 billion on the provincial exchequer. According to the budget documents, the Punjab government owes Rs565 billion to various banks while it will pay Rs32 billion as mark-up payment in the fiscal year 2023-24.

The caretaker government has made a Joint Priorities Committee (JPC), which was tasked to make the budget for four months, alongside projections for the whole fiscal year. The JPC has already given its nod to the proposed budget accordingly.

The JPC proposed allocation of Rs69.8 billion for the ongoing development schemes of the higher education, Rs4.64 billion for literacy and non-formal education, Rs64.84 billion for primary and secondary healthcare, Rs58.21 billion for school education, Rs32.18 billion for Industry, Commerce and Trade, Rs11.44 billion for youth affairs and sports, Rs4.82 billion for tourism and archaeology, Rs8.81 billion for environmental protection projects, Rs3.41 billion for information and culture, Rs62.69 billion for irrigation, Rs2.3 billion for labour and human resources, Rs24.26 billion for livestock and dairy development, Rs12.69 billion for population welfare, Rs5.47 billion for social welfare and Baitul-Mal, Rs1.85 billion for special education, Rs29.35 billion for transport, Rs10.6 billion for energy development projects, and Rs2.9 billion for women development.

The JPC proposed allocation of Rs8.5 billion for urban development and Rs3 billion for law, order and parliamentary affairs, Rs2.64 billion for local government and rural development, Rs5 billion for planning and development, Rs3.95 billion allocated for the provincial assembly and Rs19 billion for the Board of Revenue, Rs50 billion for S&GAD and Rs420 million for Zakat, Rs3 billion for prosecution, and Rs161 billion for health department.

The JPC proposed Rs161 billion allocation for police, Rs40 billion for agriculture and Rs11 billion for Rescue-1122.

Further, Rs860 million allocation has been proposed for the chief minister’s house and Rs140 million for the CM inspection team. Similarly, Rs630 million allocation is proposed for the governor’s secretariat expenses.

Meanwhile, Balochistan government will present budget for the fiscal year 2023-24 on Monday (today), the Finance Department officials said on Sunday.

Earlier, the Balochistan government had postponed the presentation of the provincial budget for the financial year 2023. The bud­get was scheduled to be presented June 16, 2023, in the provincial assembly.

The date for the budget announcement was extended as MPAs and ministers belonging to different political parties had suggested new development schemes in the budget, sources in the Finance Department said.