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Punjab Budget 2015-16 to be announced today

LAHORE: Punjab’s first woman Finance Minister Dr. Ayesha Ghaus Pasha on Friday (today) will announce the provincial budget for fiscal year 2015-16, ARY News reports.

According to sources, the volume of the budget for the next fiscal year is Rs. 1220 billion (1.22 trillion) in which Rs. 400 billion have been reserved for development projects in Punjab.

A 7 to 7.5 percent increase is expected in the ad-hoc allowances of government employees and retired officials, according to sources.

Sources have said that Rs. 10 billion amount is likely to be allocated for the Orange Line Train Service while Rs. five billion is expected to be earmarked for the provincial government’s laptop scheme.

An increase of 10 percent is expected in the property tax, sources said.

It is also being stated that Rs. 35 billion likely to be set aside for improving the conditions of the provincial government’s education centres.

Punjab is likely to acquire Rs. 894 billion share from the National Finance Commission (NFC).

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