Punjab Budget 2024-2025 worth Rs 5446 billion unveiled

BusinessPunjab Budget 2024-2025 worth Rs 5446 billion unveiled

LAHORE, Pakistan: The Punjab Budget 2024-25 with a total outlay of Rs 5,446 billion was presented in the Punjab Assembly in Lahore on Thursday afternoon.

The Punjab Finance Minister Mujtaba Shuja Ur Rehman unveiling budgetary proposals said that no new tax has been levied in the budget for the next Fiscal Year 2024-25.

   

In his budget speech, the minister said that the revenue collection will be increased by 53 percent through other means.

Shuja Ur Rehman said that the next Annual Development Programme (ADP) will be of Rs 842 billion. He said that 77 new mega projects will be part of the ADP.

The provincial finance minister also said that the revenue target for next fiscal year will be Rs 960 billion.

Mujtaba Shuja Ur Rehman said that minimum wages have been enhanced from Rs 32,000 to Rs 37,000 while the salaries of government employees will be enhanced by 20 to 25 percent and pensions 15 percent.

The finance minister said that the Minority Development Fund has been increased by Rs 1 billion for the first time. He said that Rs 6 billion have been allocated for the laptop scheme while Rs 5 billion for the Pakistan Kidney and Liver Transplant Institute Endowment Fund.

The minister said that the inflation rate has been brought down to 11.8 percent and significant reductions are being made in government expenditures.

Furthermore, he said that revolutionary measures are being taken in the health sector in Punjab, and free Wi-Fi facilities have been provided at several locations in Punjab.

The Punjab finance minister said that solar panels will be provided to electricity consumers using 100 units and easy loans will be provided to those building houses up to five marlas.

Mati
Mati
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