Understanding Punjab’s budget: where are the funds directed?

LAHORE: The Punjab Finance Department unveiled a quarterly budget for the current fiscal year 2023-24 of Rs280 billion for Punjab, allocating funds across 42 sectors.

Sources reveal that Rs48.55 billion is proposed for enhancing road infrastructure across the province, with over Rs38.29 billion earmarked for specialised healthcare services.

The budget suggests allocating Rs17.70 billion for urban development initiatives, along with Rs12.13 billion for public buildings.

Read more: KP assembly passes Rs 159 billion budget for March

Similarly, Rs18.24 billion is proposed for construction projects, while Rs21.23 billion is allocated for planning and development.

In the agriculture sector, Rs5.34 billion is proposed for development efforts.

For education, the budget outlines Rs23.50 billion, with Rs14.41 billion directed towards primary and secondary education.

Additionally, Rs8.10 billion is proposed for irrigation projects and Rs12.99 billion for governance and IT initiatives.

Other proposed allocations cover various sectors: Rs3 billion for higher education, Rs7 billion for water supply and sanitation, Rs6.47 billion for industrial development, and Rs1.80 billion for the energy sector.

Transport infrastructure is proposed to receive Rs1.90 billion.

Read more: Pakistan, IMF discuss fiscal strategy and energy sector sustainability

On the environmental front, wildlife protection and environmental conservation are proposed to receive Rs2.79 billion and Rs2.76 billion, respectively, while forestry and endowment programmes are proposed to receive Rs1.70 billion and Rs1.10 billion.

Sports are proposed to be allocated Rs1.19 billion, while literacy and non-formal education Rs2.05 billion.

Given the province’s population of over 150 million, the proposed budget allocates Rs1.3 billion for population welfare.

The proposed quarterly budget also includes Rs1.50 billion for emergency services, Rs1.25 billion for livestock, Rs500 million for social welfare, over Rs500 million for special education, Rs400 million for tourism, and Rs900 million for human rights projects.

Furthermore, Rs300 million is proposed for women development, Rs600 million for mines and minerals sector, Rs240 million for information and culture, Rs490 million for fisheries, Rs200 million for labour, Rs190 million for food, and Rs280 million for archaeology.

Punjab Assembly to convene on Friday to finalise 2023-24 quarterly budget

The Provincial Assembly of Punjab will convene on Friday (today) to finalise the budget for the remaining three months of the current fiscal year.

Earlier, the provincial assembly approved the March budget. In the upcoming session, the provincial assembly will approve budgets for April, May, and June.

The upcoming assembly session was necessitated due to the absence of a proper government in June 2023 to pass the annual budget for the FY 2023-24. The caretaker Punjab government, whose term exceeded the constitutional limit, was only authorised to approve the budget for four months.