Rs5,390 billion Punjab budget to be presented today

LAHORE: The Punjab government will present Rs5,390 billion provincial budget for fiscal year (FY) 2024-25 today.

Punjab Finance Minister Mujtaba Shujaur Rehman will present the budget in the assembly session to be presided over by Speaker Punjab Assembly Malik Mohammad Ahmad Khan at 2:00 pm.

The government has decided to allocate Rs597 billion for salaries and Rs447 billion for pensions. This year the volume of the budget is Rs910 billion more than last fiscal year.

An amount of Rs842 billion has been allocated for the annual development programme in the budget; Rs150 billion for the road infrastructure; Rs600 billion for the education sector; Rs406 billion for different health projects; Rs65 billion for local bodies and Rs27 billion for the irrigation department.

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Rs30 billion have been earmarked for the Ramadan Package; Rs8 billion for the CBD; Rs9.8 billion for ‘Chief Minister’s Roshan Gharana Programme’; Rs7 billion for ‘Apni Chat, Apna Ghar Programme’; Rs40 billion for Green Pakistan Initiative, and Rs1 billion for Endowment Fund for journalists.

Similarly, the tax collection target for the Punjab Revenue Authority has been set at Rs300 billion; Rs105 billion for the Board of Revenue; Rs55 billion for the excise department.

Likewise, Rs121 billion have been set aside for the repayment of foreign loans.