PUNJAB Chief Minister Maryam Nawaz Sharif has once again demonstrated her resolve to transform the landscape of Punjab, following the legacy of her father, Nawaz Sharif, and her uncle, PM Shehbaz Sharif. Her leadership and dedication to bringing about significant change are evident in the province’s historic tax-free surplus budget and the record allocations made for development projects.
Finance Minister Mujtaba Shujaur Rehman outlined the budget having the total outlay of 5446 billion rupees in the Punjab Assembly on Thursday. The budget, notably free of new taxes, aims to enhance revenue by fifty three percent through innovative financial sources, demonstrating the resolve to fiscal responsibility without burdening the taxpayers further.
A standout feature of this budget is the closure of Rs530 billion worth of dead schemes from the development budget, redirecting these funds into new, potentially more impactful projects. This strategic decision will not only eliminate inefficiencies but also ensure that every rupee is directed towards initiatives that promise tangible progress. The allocation of a record Rs 842 billion for development expenses marks the largest development package in Punjab’s history. This ambitious budget includes 77 new mega projects, reflecting a forward-thinking approach that addresses the province’s critical needs and future aspirations. Such a substantial investment in development is poised to drive significant economic growth and improve infrastructure across Punjab. We expect that the areas lagging behind development, especially the rural areas, will be given priority in the development expenditure.
Agriculture, a key pillar of Punjab’s economy, has received notable attention in the provincial budget. With Rs26 billion allocated for agricultural equipment, Rs10 billion for the Kisan Card and Rs30 billion for the CM Green Tractor Programme, the government is focused on enhancing agricultural productivity. Punjab, long considered the food basket, requires continuous support to integrate modern technology into farming practices and to provide essential resources to farmers. These initiatives are vital for ensuring sustainable and increased agricultural output which is crucial for both local consumption and export.
The record Rs1 billion allocated to the Minority Development Fund underscores the government’s commitment to inclusivity and social equity. Additionally, Rs 6 billion for the laptop scheme and Rs5 billion for the PKLI Endowment Fund highlight a strong emphasis on education and healthcare. The Rs 130 billion earmarked for social protection, a record increase of Rs 110 billion, showcases the government’s seriousness to supporting vulnerable populations and improving social welfare.
Presenting such a forward-looking budget in these challenging economic times is indeed remarkable. The provincial chief minister’s commitment to transformative change and hands-on leadership style are expected to play a crucial role in bringing her ambitious plans to fruition, benefiting the people of Punjab and setting a new standard for governance.
