LAHORE: Punjab Finance Minister Mujtaba Shuja Ur Rehman on Thursday presented an Rs5.46 trillion provincial budget for the financial year 2024-25.
The budget session started with a delay of one hour and 38 minutes. Under the budget outlay of Rs5,446 billion, including Rs842 billion has been allocated for development expenditure and a surplus of Rs630 billion.
Opposition members raised slogans during the budget session and tore copies of the proposed budget for 2024-25.
Journalists associations present in the provincial assembly to cover the budget speech protested against the Defamation Act passed by the PML-N- government through the assembly. However, Pakistan Peoples Party (PPP) lawmakers are present in the session.
Punjab Finance Minister while presenting the budget said the government has allocated Rs10 billion for housing projects to the poor. The minister added under the National Finance Commission (NFC) award, the government of Punjab will get Rs3683 billion.
The provincial 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 instalments,” he said.
The finance minister said Rs9.5 billion has been earmarked for the ‘Chief Minister Roshan Gharana Program’.
Earlier, the Punjab government had announced that complete solar systems were being provided free of cost to domestic consumers consuming up to 100 units of electricity.
Punjab Finance Minister Mujtaba Shuja in his speech said the government has allocated Rs135 billion under 482 schemes for repair and rehabilitation of roads.
He added that Punjab will set up its first Garment City for Rs3 billion to increase foreign exchange.
He said a major project named Khelta Punjab would be started with a cost of Rs7 billion. This program will provide field and basic sports facilities in all constituencies of the province.
A major project for the maintenance and reconstruction of current sports facilities in Punjab will be commenced, costing 6.5 billion rupees.
Punjab provincial cabinet led by Chief Minister Maryam Nawaz has already approved the largest tax-free surplus budget in the province’s history.
Maryam Nawaz added that the budget focuses on enhancing revenue from the province’s own sources without imposing new taxes on the public.
Meanwhile, the revenue target has been increased significantly from the previous Rs625 billion rupees to Rs960 billion.
