Saturday, July 24, 2021

Punjab cabinet approves budget 2021-22 with 10% rise in salaries, pensions

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LAHORE: The Punjab cabinet with Chief Minister Sardar Usman Buzdar in the chair approved Monday the budget 2021-22, reported ARY News.

According to details, the cabinet meet today to review and approve the budgetary proposals for the next fiscal year.

The cabinet approved a 10 per cent rise in salaries and pensions of government employees. It rejected a Board of Revenue (BoR) proposal for an increase in agriculture tax. Chief Minister Usman Buzdar said the government won’t put any burden on farmers.

The provincial cabinet also approved a supplementary budget for the outgoing fiscal year (2020-21).

The budget for the fiscal year 2021-22 with an outlay of Rs2600 billion will be presented in the provincial assembly today. Finance Minister Hashim Jawan Bakht will present the budget 2021-22.

The Punjab government had planned to put together a budget of about Rs2,600 billion for the fiscal year 2021-22, with the development sector eyeing Rs560 billion this year, and is expected to lay it before the provincial assembly on June 14.

It was also expected that the development budget for education and health see raise of 1.5 per cent in that budget, while for Sehat Card, a health insurance initiative, Rs60 billion had been recommended.

For Punjab’s road infrastructure, the province is to set aside Rs30 billion under Public Sector Development Programme (PSDP) and for Covid-hit business sectors, a package worth Rs50 billion is being suggested.

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