LAHORE: “Neither new taxes imposed nor rate of existing taxes increased in the current budget,” Chief Minister Punjab Maryam Nawaz Sharif, said.
While chairing the 9th meeting of the provincial cabinet, in which largest-ever Rs 5446 billion tax-free surplus budget for the FY 2024-25 was approved, the CM said, “We want to increase financial resources of the province without burdening the people. They have managed a 53 percent revenue increase through resource mobilisation in the province.”
The provincial cabinet approved biggest-ever development package of Rs 842 billion, besides a surplus budget of Rs 630 billion. The Annual Development Plan (ADP) will include 77 new mega schemes as CM special initiatives.
The cabinet set a revenue target of Rs 960 billion for the current fiscal year against the previous year target of Rs 625 billion. The cabinet was briefed that this Rs 960 billion revenue target will be achieved by the province through mobilization of its own fiscal resources.
The Punjab cabinet gave approval to increase minimum wage from Rs 32,000 to Rs 37,000, besides approving 20-25 percent increase in salaries and 15 percent hike in pension of the government employees.
The cabinet approved first-ever record increase of Rs 01 billion in the Minority Development Fund, and gave a good-ahead to retire wheat debt of Rs 375 billion to save more than Rs 54 billion in interest.
The cabinet approved Rs6 billion for Laptop Scheme, Rs5 billion for PKLI Endowment Fund and Rs130 billion for social protection.
The cabinet was briefed that during the previous financial year, Punjab achieved a record increase of Rs 110 billion in tax revenue, which is 36% more than the FBR target.
The Punjab cabinet approved Rs 268 billion in supplementary grants for FY 2023-24 budget, besides the approval of Supplementary Budget Statement of FY 2023-24. It also approved Rs 26 billion for agricultural implements, Rs 10 billion for Kisan Card, Rs 30 billion for CM Green Tractor Program, Rs 80 billion for CM District SDGs Program, Rs 35 billion for Lahore Development Plan, Rs 5 billion for the development of Murree, Rs 2 billion for livestock card, Rs 2 billion for Himat and Nighaban card, and Rs 26 billion for restructuring of the school education in Punjab.
The CM Maryam said, “The entire Punjab will be made a safe city, all cities will be covered with cameras.” She added that “the money saved from buying wheat will be spent on farmers. Cattle will be especially provided to the farmers of South Punjab.”
The CM said, “Rural health has never been given attention. For the first time, all health centres across Punjab are being revamped. The people are happy with the initiatives like Field Hospitals, Clinic on Wheels, free home delivery of medicines and free provision of medicines in hospitals.”
The CM said, “Funding will be given to people owning up to five marlas of land to build houses under ‘Apni Chhat Apna Ghar programme’.”
Maryam said, “Nawaz Sharif is very happy to see our hard work. Nawaz Sharif says Allah has held our hand.”
Maryam Nawaz said, “My cabinet and entire team are working day in and day out to fulfill our promises. DCs will be appointed only on the basis of their performance, which is continuously being monitored.” She said “A single department will be established to ensure water supply and sanitation in the province.”
Members of the provincial cabinet paid tribute to Chief Minister Maryam Nawaz Sharif for bringing down record inflation in just three months.
Copyright Business Recorder, 2024
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