Punjab govt not imposing 'new taxes' in budget FY23

Lahore: The Punjab government will present a replicated budget of the federal government on June 13 for the fiscal year 2022-23 with focus on "pro-poor" initiatives and "controlling" inflation.

No new tax will be imposed in the budget while special concessions and incentives given during the past will continue, the Punjab finance department said in a statement.  

The government has planned to launch a special aid package to control inflation while steps will be made to control the price of edible items alongside increasing the purchasing power of the commoners. 

Further, different schemes are decided to reduce the energy bills by efficient use of the energy. These steps will not only reduce the load shedding but also curtail the electricity bills. 

The government has also decided not to impose any new tax in the provincial budget. Further, to minimize the hardships of the businesses, trade and commoners due to the energy crisis, the government has decided to continue the tax relaxations and exemptions given during the last two years. 

Similarly, the facility package announced by Punjab Chief Minister Hamza Shahbaz for availability of flour at lower prices will also be continued. The overall volume of Punjab's budget for the next financial year will also be increased.

The development budget will also increase alongside keep focusing on social sectors including health and education. A large portion of the budget will be spent on achieving development goals.

The first priority of the government in the budget for the next financial year will be the development of the social sector and revival of the economy. Several important initiatives will be introduced.

In order to achieve the sustainable development goals, the solution of public problems at the district level will be ensured. The next budget of Punjab will be a public friendly budget in which no class will be ignored.

The forthcoming budget will bring good news for both government employees and the working class, the statement concluded.