Punjab Unveils Rs5.46 Trillion Tax-Free Budget

Islamabad: Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman presented the Punjab budget 2024-25 in an assembly session under the chair of Speaker Malik Ahmed Muhammad Khan amid the opposition protest. 

The budget outlay of Rs5,446 billion, including Rs842 billion allocated for development expenditure and a surplus of Rs630 billion.

Punjab Chief Minister Maryam Nawaz Sharif reached the assembly session. 

Opposition members raised slogans against the budget announcements and tore copies of the Punjab budget for 2024-25. 

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

Journalists boycott assembly session 

Journalists associations present in the Punjab Assembly session to cover the budget session protested against the Defamation Act passed by the PML-N-led unity government through the provincial assembly. 

PPP lawmakers are present in the session. 

Rs10 billion housing project for underprivileged people

Punjab Finance Minister said the government has allocated Rs10 billion for housing projects to the poor.

NFC quota

The minister said under the National Finance Commission (NFC) award, the Punjab government will get Rs3683 billion. 

Rs75 billion Interest-free loans for farmers

Punjab finance minister said the Punjab government has allocated 75 billion in interest-free loans for 500,000 farmers.

“7,000 tube wells will be transferred to solar across Punjab,” he said.

“Chief Minister Green Tractor Program is being started for 30 billion. Farmers will be able to own their tractors in easy installments,” he said.

Punjab salaries, pensions update in budget

Punjab government has allocated Rs603 billion for salaries, Rs491 billion and Rs857 billion for the local governments.

PPP symbolically boycott budget session

Pakistan People's Party (PPP) boycotted the Punjab Assembly session symbolically as only two members attended the session.

PPP leader Haider Gilani said PPP was not included in the consultation in the preparation of the budget and could not support the government's budget in these circumstances.

CM Roshan Gharana Program 

The finance minister said Rs9.5 billion has been allocated for the 'Chief Minister Roshan Gharana Program'.

Punjab govt to provide free solar installations

Punjab government on Thursday announced that complete solar systems are being provided free of cost to domestic consumers consuming up to 100 units of electricity.

Highlights 

• Education Rs669 billion
• Laptop scheme Rs10 billion
• Livestock Card Rs2 billion
• CM Green Tractor Scheme Rs30 billion
• Interest-free Farmers loans Rs75 billion
• Specialized Healthcare Rs86 billion
• Health facilities Rs539.15 billion
• Primary Secondary Healthcare Rs42.60 billion
• HEC Rs17 billion
• Danish Schools Rs2.50 billion
• Salaries Rs603.10 billion
• Pensions Rs451 billion
• Minimum wage increased from Rs32,000 to Rs37,000

  Rs135 billion allocates for road rehabilitation

The minister in his speech said Maryam Nawaz Sharif-led Punjab government has allocated Rs135 billion under 482 schemes for repair and rehabilitation of dilapidated and old roads.

Garment City to Boost Foreign Exchange

Punjab will establish its first Garment City for Rs3 billion to increase foreign exchange.

South Punjab budget and Education overall

Khelta Punjab Initiative

A major project named Khelta Punjab will commence for Rs7 billion. This initiative will provide field and basic sports facilities in all provincial constituencies.

Reconstruction of sports facilities

In the next financial year, a significant project for the maintenance and reconstruction of existing sports facilities in Punjab will be launched, costing 6.5 billion rupees.

Digital Punjab Vision

Chief Minister Maryam Nawaz's vision of a Digital Punjab is rapidly becoming a reality. In just three months, the foundation of Pakistan's first Nawaz Sharif IT City has been laid in Lahore.

Punjab cabinet approves ‘largest’ tax-free surplus budget in history

Punjab provincial cabinet chaired by Chief Minister Maryam Nawaz has approved the largest tax-free surplus budget in the province's history.

The budget, amounting to Rs5,446 billion, includes Rs842 billion allocated for development expenditure and a surplus of Rs630 billion.

Maryam Nawaz announced that the budget would focus on enhancing revenue from the province's own sources without imposing new taxes on the public.

The revenue target has been significantly increased from the previous Rs625 billion rupees to Rs960 billion.

Other notable initiatives include establishing a single department for water supply and irrigation, making Punjab a safe city with comprehensive camera coverage, and allocating funds saved from wheat procurement to support farmers, particularly in South Punjab.

The budget also includes provisions for rural health improvements and funding for housing projects for the next five years.

Maryam Nawaz expressed her commitment to fulfilling these promises and developmental projects, with Nawaz Sharif expressing satisfaction with the team's hard work.

Key highlights of the budget include:

• Approval of 77 new mega projects in the annual development plan.
• A 53% increase in revenue from fiscal sources without raising taxes.
• A record Rs842 billion allocated for development expenditure.
• An increase in the minimum wage from Rs32,000 to Rs37,000.
• A 20-25% increase in salaries and a 15% increase in pensions.
• A historic increase of one billion rupees in the Minority Development Fund.
• Allocation of 26 billion rupees for agricultural implements, 10 billion for the Kisan Card, and 30 billion for the CM Green Tractor Program.
• Two billion rupees each for the livestock card and Himmat and Nighaban cards.
• Approval of 26 billion rupees for restructuring education.