Mujtaba for extending maximum relief to public in budget

LAHORE:Punjab Finance Minister Mujtaba Shuja-ur-Rehman said that the government will continue to prioritise the expansion of the tax net over arbitrary increases in tax rates. He directed that maximum tax relief be extended to the general public in the upcoming budget.

The minister said this while presiding over the second meeting of the Cabinet Committee on Resource Mobilisation for the Financial Year 2025–26 in the Committee Room of the Finance Department on Monday.

The meeting was attended by the additional finance secretary and heads of key tax and revenue departments. The session focused on reviewing projections for provincial resources and evaluating strategies to enhance revenue generation for the upcoming fiscal year.

Addressing the meeting, the minister observed that the aim of the government is to meet development needs without placing an additional burden on the common citizen. He further shared that all taxable services across Punjab will be brought within the tax net through the Punjab Revenue Authority (PRA). Harmonisation and standardisation of tax rates under PRA will remain a top priority to ensure fairness and transparency in the tax system.

The minister appreciated the performance of the Excise Department. "We aim to strike a balance between financial discipline and public trust," he added. The committee also resolved to encourage foreign investment in key sectors, including agriculture and mines & minerals, to stimulate economic activity across the province.

Additionally, the efficient utilisation of provincial assets was emphasised as a crucial step towards strengthening the financial base of province. Highlighting the strategic importance of the committee’s work, he remarked that the ‘Resource Mobilisation is the cornerstone of economic sovereignty. The Punjab government is introducing a new financial model based on reforms, transparency, and digitalisation - one that guarantees public service and sustainable development." The proposals finalised by the Resource Mobilisation Committee will be submitted to the cabinet for final approval and subsequent implementation.