Rs5.4 trillion ‘tax-free’ Punjab budget unveiled

News Desk
Friday, Jun 14, 2024

LAHORE: The Punjab government on Thursday presented the budget for the fiscal year 2024-25 with a total outlay of Rs5,446 billion, terming it first tax-free budget of the incumbent government.

Punjab Finance Minister Mujtaba Shuja-ur-Rehman presented the budgetary proposals, saying no new tax has been imposed in the budget for the next fiscal year, reported Radio Pakistan.

He said revenue collection will be increased by 50 per cent through other means, adding Annual Development Programme will be of Rs842 billion. He said as many as 77 new mega projects will be part of the ADP, while the revenue target set at Rs960 billion.

The minister said minimum wages will be increased from 32,000 to 37,000, adding the salaries of government employees will be raised by up to 25 per cent. He said Minority Development Fund has been increased by Rs1 billion for the first time, adding Rs6 billion was earmarked for laptop scheme. Rs5 billion allocated for the Pakistan Kidney and Liver Transplant Institute Endowment Fund.

The minister said inflation rate has been brought down to 11.8 per cent and significant reductions are being made in government expenditures. He further said revolutionary measures are being taken in the health sector in Punjab, adding free Wi-Fi facilities have been provided at several locations in the province. He said solar panels will be provided to electricity consumers using hundred units and easy loans will be offered to those building houses up to five marlas.

Earlier, Punjab cabinet approved the “tax-free budget” at a meeting presided over by Chief Minister Maryam Nawaz in Lahore. Addressing the meeting, the CM said all out efforts will be made for fulfilling government’s promises made with the people.