The Punjab government will present a Rs5,390 billion provincial budget for the fiscal year (FY) 2024-25 today.
Punjab Finance Minister Mujtaba Shujaur Rehman will present the budget in an assembly session presided over by Speaker Punjab Assembly Malik Mohammad Ahmad Khan at 2:00 pm.
The government has allocated Rs597 billion for salaries and Rs447 billion for pensions. This year’s budget is Rs910 billion higher than the last fiscal year.
An amount of Rs842 billion has been allocated for the annual development programme; Rs150 billion for road infrastructure; Rs600 billion for the education sector; Rs406 billion for various health projects; Rs65 billion for local bodies; and Rs27 billion for the irrigation department.
The budget includes Rs30 billion for the Ramadan Package; Rs8 billion for the Central Business District (CBD); Rs9.8 billion for the ‘Chief Minister’s Roshan Gharana Programme’; Rs7 billion for the ‘Apni Chat, Apna Ghar Programme’; Rs40 billion for the Green Pakistan Initiative, and Rs1 billion for an Endowment Fund for journalists.
The tax collection targets are set at Rs300 billion for the Punjab Revenue Authority, Rs105 billion for the Board of Revenue, and Rs55 billion for the excise department. Additionally, Rs121 billion has been allocated for the repayment of foreign loans.