LAHORE: Punjab government will present its budget for the new fiscal year of 2020-21 on June 14, sources told ARY News.
Overall budget volume is expected to be Rs1430 billion after allocation of Rs400 billion under development while the provincial government would not impose new taxation, sources said.
The provincial government is likely to make changes in previously imposed taxes while the restriction on purchases of new vehicles by the government will be retained in view of reduction expenses.
South Punjab province will be given more importance in the upcoming budget. Sources said that 35 per cent of the allocations will be given to development projects in South Punjab.
Read: Upcoming Punjab budget should depict aspirations of people, directs CM Buzdar
The authorities made recommendations to increase the salaries of government employees up to 10 per cent.
According to sources, education and health departments are prioritised under development programmes as Rs52 billion and Rs50 billion allocations are suggested for education and health sectors respectively.
The provincial government would spend Rs35 billion for construction of road networks while Rs26 billion is apportioned for irrigation projects.
It is suggested to allocate Rs8 billion for public buildings, Rs12 billion for agriculture and Rs11 billion each for industry and commerce sectors.
However, a smaller portion will be given to information technology (IT), good governance and transport sectors. The provincial authorities suggested allocating Rs6 billion each for IT and good governance and Rs3 billion for transport.
Read: Next budget to be austerity oriented: Hafeez Shaikh
Earlier on May 29, Punjab Chief Minister Sardar Usman Buzdar had directed the concerned authorities that upcoming provincial budget should depict aspirations of the people and it should be designed in accordance with the basic necessities of life.
CM Usman Buzdar said this while chairing a high-level meeting at his office in which the salient features of the annual development program and budgetary proposals for the financial year 2019-20 were reviewed in detail.
According to a statement released from his office, CM Buzdar said “More funds will be allocated for the development of the social sector and resources will be utilized for public welfare and the promotion of health and education sectors.”
He said that public-private partnership would be promoted for encouraging investment and added that an increase in resources was the need of the hour for the projects of national reconstruction.
“We want to put the province of Punjab on the road of development,” he concluded.
