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Punjab unveils 'tax-free' FY25 budget worth Rs5,446bn

Punjab Finance Minister Mujtaba said that first official tax-free budget is being presented



Punjab unveils 'tax-free'  FY25 budget worth Rs5,446bn
Punjab unveils 'tax-free' FY25 budget worth Rs5,446bn


Punjab budget with a total outlay of 5,446 billion rupees was presented in provincial assembly in Lahore this afternoon.

Punjab Finance Minister Mujtaba Shuja ur Rehman unveiling budgetary proposals said no new tax has been levied in budget for next fiscal year.

He said revenue collection will be increased by fifty three percent through other means.

Shuja ur Rehman said next Annual Development Programme will be of 842 Billion rupees.

He said seventy seven new mega projects will be part of ADP.

Mujtaba Shuja ur Rehman has said the revenue target for next fiscal year will be 960 billion rupees.

Punjab Finance Minister said minimum wages have been enhanced from thirty two thousand rupees to seven thousand rupees.

The salaries of government employees will be enhanced by twenty to twenty five percent while pensions fifteen percent.

He said Minority Development Fund has been increased by one billion rupees for first time. He said six billion rupees have been allocated for laptop scheme while five billion rupees for the Pakistan Kidney and Liver Transplant Institute Endowment Fund.

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

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

Punjab Finance Minister said that solar panels will be provided to electricity consumers using hundred units and easy loans will be provided to those building houses up to five marlas. 

Earlier, Punjab cabinet approved the tax free budget for next fiscal year at a meeting presided over by Chief Minister Maryam Nawaz in Lahore today.

Addressing the meeting, Chief Minister said all out efforts will be made for fulfillment of our promises made with the people.

Punjab Finance Minister Mujtaba Shuja-ur-Rehman, earlier, presented the provincial budget 2024-25 in the Assembly.

The Punjab Assembly session started one hour and 38 minutes late. Speaker Malik Muhammad Ahmed Khan is presiding over the Punjab Assembly session.

Punjab Finance Minister Mujtaba while addressing the assembly said that today important milestones are being crossed. The development of Punjab has started, Maryam Nawaz took revolutionary steps in 100 days.

He stated that Chief Minister Punjab Maryam Nawaz reduced the inflation to a record level in Punjab. The revolutionary measures are being taken in the health sector. The first official tax-free budget is being presented, and the inflation rate has been brought down to 11.8 percent.

The provincial finance minister added that they are providing roofs and houses for Rs10 billion. Punjab farmer program has been started which will benefit 0.5 million farmers.