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Monday, April 29, 2024  
21 Shawwal 1445  

Punjab budget worth Rs3,226 billion unveiled

Budget estimates total revenue of the provincial government at over Rs2,521 billion
The budget was scheduled for a day earlier but it was postponed.
The budget was scheduled for a day earlier but it was postponed.

The controversy surrounding Punjab took a backseat on Wednesday as the provincial government presented its budget at the Aiwan-e-Iqbal with a total outlay of Rs3,226 billion.

The budget was scheduled for a day earlier but it was postponed as the deadlock between the opposition and treasury benches persisted, with both parties summoning separate budget sessions.

Punjab Assembly lawmaker Awais Laghari presented the provincial budget.

During the budget speech, the provincial minister said that the previous government did not focus on the development of the social sector, adding that the previous government damaged the economy by raising the prices of crude oil.

He said that the budget 2022-23 estimated the total revenue of the provincial government at Rs2,521 billion.

  • With a 44% target, total revenue from Revenue Board is estimated at Rs95 billion
  • Rs 163.53 billion revenue is estimated from non-tax revenue

Laghari said that out of the total amount, Rs1,712 billion were proposed for the running expenditure.

  • Rs 435.87 billion is allocated for salaries
  • Rs 312 billion for pensions
  • Rs 528 is allocated to local governments
  • With an increase of 22%, Rs 685 billion is allocated for the development programs
  • Rs 41 billion is proposed for development projects
  • With a 2% increase, Rs 43.50 billion is allocated to the Excise department

The budget proposed Rs 200 billion for the chief minister’s public relief package.

Laghari said that the budget did not propose any new tax, adding that it focused on providing flour at low rates to the people.

He said that stamp duty in the urban areas has been proposed to 2%.

He said that Rs 365 billion is proposed for the ongoing development schemes.

  • 40% of the development budget is proposed for the social sector while 24% for infrastructure
  • 6% of the development budget is proposed for the production sector and 2% for the services sector
  • 28% of the development budget is proposed for special initiatives and other programs

The provincial minister said that health budget has been proposed with an increase of 10% at Rs 485.26 billion.

  • Rs 296 billion has been proposed for non-development projects

  • Rs 174.50 billion is allocated to development programs

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