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Punjab Budget 2021-22 presented with outlay of Rs 2,653 billion

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LAHORE, Pakistan: The Punjab government on Monday presented a public-friendly provincial budget with a total volume of Rs 2,653 billion for the next Fiscal Year 2021-22.

Presenting the budget at the Punjab Assembly in Lahore, the Provincial Finance Minister Hashim Jawan Bakht said that the total volume of next fiscal year’s budget is 18 percent higher than the last budget.

The Punjab finance minister said that under the NFC Award, funds worth Rs 1,684 billion will be transferred to Punjab from the federal government. He said that a target of Rs 405 billion has been set for Provincial Receipts.

Hashim Jawan Bakht said that the amount of current expenditure has been estimated as Rs 1,428 billion.

The finance minister said that Rs 560 billion are being allocated for a record annual development program which are 66 percent more than ongoing development programs.

The minister said that Rs 205.5 billion have been allocated for the social sector including education and health while Rs 145 billion for infrastructure development.

The provincial finance minister said that Rs 91 billion have been allocated for special programs while Rs 57.9 billion for production sectors including industries, agriculture, livestock, tourism, and forests.

Hashim Jawan Bakht said that during the COVID-19 situation, the Punjab government introduced a package worth Rs 106 billion for economic restoration of the public which included a tax relief worth Rs 56 billion to the business community.

The Punjab finance minister said that the provincial government has decided to raise salaries of its employees and pensions of retired employees by 10 percent. He said that grade 1 to grade 19 employees, who have not been granted additional allowance of any kind earlier, will be granted a 20 percent increase in their salaries on account of special allowance.

The minister announced to raise the monthly wages of laborers from Rs 17,500 to Rs 20,000.

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