Punjab budget for next FY to be presented tomorrow

As much as 20 per cent and 15 per cent raise in the salaries and pensions of the provincial government servants is expected as the Punjab budget for the next financial year (FY), 2024-25, having a volume of Rs53.9 trillion, will be presented tomorrow, reported 24NewsHD TV channel on Wednesday.

However, any announcement about raise in salaries depends upon a green signal by the federal government.

This year the volume of the budget is Rs910 billion more than last FY.

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.  

As many as Rs597 billion have been earmarked for salaries; Rs447 billion for pensions; Rs30 billion 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.  

It has been estimated that Punjab will receive a share of Rs3,700 billion.

The budget session will start at 2:00PM, reads a notification issued by the Punjab Assembly secretariat.

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.

Reporter: Rao Dilshad