The Punjab government has decided to present the budget for the upcoming fiscal year 2024-25 in the Punjab Assembly on June 12.
“If the federal government changes its date and presents the budget on June 12, we will present ours on June 14,” said Shuja.
He said that the budget for Punjab’s upcoming fiscal year will be tax-free. The Farmers’ Card will be launched on August 14, and a package of Rs400 billion will be given to farmers.
“Discussions are ongoing with foreign companies regarding public transport. There is no need to worry; there will be no hidden taxes in the finance bill,” he added.
Meanwhile, the Punjab Finance Department has proposed a 20 percent increase in the salaries of government employees in the Punjab budget of the new financial year 2024-25.
According to media reports, 20 percent increase in the salaries will be for ad hoc relief and there will be no increase in the basic salary of government employees. The sources in the finance department also said that a 15 per cent increase in pension is proposed.
The volume of the Punjab budget for the next financial year (FY) 2024-25 will be Rs53.9 trillion. Punjab is likely to receive Rs3700 billion from the federal government, while Rs1027 billion has been set as the tax collection target in the budget under the head of income generation.
Similarly, the Punjab government has earmarked Rs597 billion for salaries and Rs447 billion for pensions of its employees in the budget.
There is a proposal to allocate Rs800 billion for development projects, Rs30 billion for the Ramadan Package, Rs8 billion for the CBD, Rs600 billion for the education sector and Rs406 billion for the health sector.
Likewise, an allocation of Rs9.8 billion has been recommended for the chief minister’s Roshan Gharana programme. As per the details, the provincial government has estimated that Rs841 billion will be spent on service delivery during the next FY.
