LAHORE: Punjab and Balochistan governments are all set to unveil the budgets today, marking the first time a caretaker government would unveil its fiscal plans in Punjab.
First time in history, the Punjab province will see the presentation of a budget by a caretaker government. Departing from tradition, the budget will be approved by the caretaker cabinet rather than being presented in the assembly which was already dissolved some months back.
Earlier today, a Punjab cabinet meeting will approve the provincial budget for the four months, projecting a total outlay of Rs1,368 billion, according to the reports.
Punjab budget
As per the budget documents, Rs426.87bn has been earmarked for the ongoing development schemes previously approved by the former Punjab Assembly.
Additionally, Rs941.34 billion has been allocated for current expenditures. In line with the federal government’s announcement in the budget, the interim government is likely to raise salaries and pensions in the province. A 17.5% rise in pensions, a 35% increase in salaries for grade I to 16 employees, and a 30% increase for grade 17 to 22 employees is likely in Punjab.
Balochistan budget
The budget of Balochistan will also be presented today. The size of the budget is close to Rs7 trillion.
According to the provincial finance department, there is a possibility of a deficit of over Rs100 billion in the budget of the upcoming fiscal year. The provincial government is likely to increase the salaries of government employees by 15%.
