Punjab to present budget on June 13

Lahore: The Punjab government has decided to present the budget for the new fiscal year on June 13.

According to sources, after the announcement of federal targets, the Punjab government has begun finalizing the budget for the upcoming fiscal year and has decided to present it on June 13.

Sources indicate that the Punjab budget is likely to include no new taxes, and increases in existing tax rates will be kept minimal. The Revenue Authority is expected to propose bringing non-taxpaying sectors into the tax net. Additionally, there is a proposal to increase government employees’ salaries by 10%.

Meanwhile, the federal budget of over Rs17.5 trillion has been presented, which includes a 10% increase in salaries, 7% increase in pensions, and a proposed reduction in income tax.

According to sources, the provincial budget will prioritize law and order, healthcare, education, and tourism. It is proposed that Rs110 billion more be allocated to education compared to last year, and Rs90 billion more to healthcare. The budget is expected to see a potential 600% increase in allocations in some sectors. Multiple sanitation and clean water schemes are also being introduced across Punjab.

The Punjab government has also decided to develop rural areas into high-standard model villages, and plans to convert 2,400 villages into model villages during the upcoming fiscal year.

Sources reveal that budget allocations will be made for the Model Village Project, with the Punjab government funding 800 villages, and the World Bank providing grants for converting 1,600 villages.

In phases, over 60% of Punjab’s villages will be transformed into model villages, which will feature clean streets, water supply lines, and street lights.

The government also plans to allocate additional funds in the budget for farmers, particularly for wheat and rice seeds and fertilizers.