Punjab Finance Minister Hashim Jawan Bakht has said that before Covid-19 pandemic, the pace of development projects was satisfactory, development expenditures and revenue collection was balanced, and huge investment was being made on health, education, industry, social protection and infrastructure development.
He expressed these views while addressing a meeting of Resource Mobilization Committee, which was held here on Wednesday in connection with the budget 2020-21. The meeting was attended by Punjab Industries and Trade Minister Mian Aslam Iqbal, Punjab Excise and Taxation Minister Hafiz Mumtaz Ahmed, Punjab Irrigation Minister Mohsin Laghari, Board of Revenue (BOR) Malik Muhammad Anwar and secretaries of concern departments.
The Minister further said that public-private projects were being launched and 'own-source revenue' was on a growth trajectory with 29 percent growth, but the pandemic altogether changed the situation.
"The emergency expenditure to control the Covid-19 pandemic and lockdown impacted both the expenditures and revenue stream as well as the economic activity, as the businesses are closing down.
However, the government managed the situation due to its timely decisions, proper planning and untiring efforts," he added. He said that since extra burden could not be put on the public and problems of the taxpayers could not be increased, it is imperative to expand the tax net and ensure tax collection from non-taxpayers. He observed that the current situation demands improvement in services and search for alternate revenue generation sources. Hence, he instructed the excise and taxation department to review its revenue generation budget proposals.
Earlier, Punjab Finance Secretary Abdullah Sumbal briefed the meeting about the tax proposals of various departments to increase the revenue generation.
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