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June 14, 2021

Punjab presents Rs2.653tr budget today

LAHORE: Punjab Finance Minister Hashim Jawan Bakht will present provincial budget for fiscal year 2021-22 on Monday (today) with estimated total budget outlay of Rs2.653 trillion which contains a Rs560 billion Annual Development Programme (ADP).

Following the federal government decision of increasing the salaries and minimum wages, the Punjab government would also announce 10 per cent increase in salaries and pension, and fixing Rs20,000 minimum wages in the province.

The budget session will be the maiden session in the newly constructed building of the Punjab Assembly. The total outlay of the budget is increased by more than 18 per cent and development budget has gained by 66 per cent compared with the current fiscal year.

The Punjab government has fixed the target of more than Rs400 billion of provincial revenue (both tax and non-tax revue) for the fiscal year 2021-22, which is 28 per cent higher than the ongoing fiscal year target. This reflects that the Punjab economy has been coming out of COVID-19 impact and economic managers are anticipating a quick growth and economic activities in coming fiscal year.

For the first time in the history of the province a separate annual development plan with a tune of Rs189 billion is allocated for south Punjab, while these schemes would also be published in separate budget books.

Furthermore, the funds allocated for the south Punjab will not be used anywhere else, and out of total development schemes, minimum 35 per cent would be allocated for the south Punjab in each sector.

The government has allocated over Rs200 billion for social sector which included health and education sectors, Rs145 billion for infrastructure development, over Rs55 billion for production sectors including agriculture, industry, tourism, wildlife, fisheries, forest, and more than Rs90 billion for special programmes.

The government has allocated Rs1 billion for Cholistan Development Authority (CDA) for water reservoirs and road infrastructure, Rs15 billion for community development programmes. Further, Rs99 billion allocated out of total Rs295 billion district development programme in budget 2021-22 for all districts of the province.

The government has decided to give a blanket cover of health insurance card of total population of the province and allocated Rs80 billion for the project. Further, a long-awaited air ambulance service project will also initiate in the budget with initial seed money.

The government has also allocated over Rs28 billion for the mega projects of Lahore which included establishment of a new 1000-bed modern hospital in the city, surface water treatment plant, underpasses and flyover projects.

The government has allocated Rs3.5 billion for industrialisation in the province and completion of work in the existing industrial estates. The government also allocated Rs10 billion for soft loans of Punjab Rozgar Scheme. In order to control the artificial inflation, the government has established Model Bazaar Authority and Rs1.5 billion allocated for establishment of model bazaars across the province. The government has made Rs58 billion allocation for road infrastructure in the budget 2021-22. Other than this, Rs39 billion will be spent from PSDP and Rs8 billion allocated under CM Road Rehabilitation Program. In total over Rs100 billion will be spent for road infrastructure in the Punjab in the next fiscal year.

For low-income housing project Rs3 billion is allocated in the budget under peri-urban housing scheme. For water and sanitation projects, the government allocated Rs9 billion through which it will establish waste water treatment plants in Lahore, Faisalabad, Sialkot and other mega cities alongside solid waste management and drinking water projects.

In order to ensure food security of the Pakistan and increase the agricultural productivity the government has made whopping increase of over 300 per cent in the agriculture development projects. The government allocated more than Rs31 billion for agriculture transformation programme. For livestock and dairy development projects Rs5 billion allocated, and for improvement of water courses Rs5 billion. For environment protection Rs4 billion allocation is made out of which Rs2.5 billion to the Prime Minister 10 billion tree tsunami project is allocated.