Budget to be pro-people, says minister

LAHORE

Punjab Finance Minister Ayesha Ghaus Pasha has said the Punjab government will announce a people-friendly budget this year, in which social sectors will be the top priority in terms of resource allocations. 

“We have been focusing on health and education for the past few years, and we will continue to allocate more on social sector in the upcoming provisional budget, providing access to education, teachers trainings and converting government schools to solar energy”, Pasha said while addressing a pre-budget workshop on Monday organised by Lahore Economic Journalists Association. 

LEJA president Zahid Abid, Vice President Ashraf Mehtab, general-secretary Shahram Haq and other members were also present.  Pasha said since Islamabad is not calling for further inter-provincial meeting for next National Finance Commission Award, it is likely that Punjab will prepare budget based on old NFC.  “We are ready to conduct meetings with other provinces, however, I do not see any NFC meeting before the budget,” she said. 

Talking about Punjab’s share in National Gross Domestic Product, she said the province has the lion’s share. “Punjab has around 57pc share in national GDP, however, lack of coordination between provincial and federal departments is affecting provincial tax to GDP ratio”, she said, adding recent property taxes in recent federal budget has also affected provincial revenues as people tend to find alternative measures.

Pasha said unfortunately tax culture is missing in Pakistan. “Despite an increase in country tax net and 42pc increase in Punjab Revenue Authority’s tax collections, a lot of ground has yet to be covered by federal as well as provincial tax collecting agencies,” she said. 

Talking about role of bureaucracy in budget preparation, Pasha said this is not a good reflection that bureaucracy alone prepares the budget. “Government conveys its priorities and directions of budget which reflects almost all parts of life,” she said. 

Regarding provincial debt, She said Punjab’s debt is not at an alarming point. “Normally 5-6pc of Provincial GRP is not as alarming as predicted, however, currently Punjab’s total debt is in-between 3-3.5pc of its revenues”, she added.