Punjab govt will present historical business friendly budget: Chohan

LAHORE: Provincial Information Minister Fayyaz ul Hassan Chohan has said that Usman Buzdar-led Punjab government will present historical business friendly budget today (Monday), ARY News reported.

Chohan in his statement released from Lahore hoped that the traders will find the budget satisfactory as special funds have been reserved for business sector.

Coronavirus pandemic has badly affected the economies of many countries of the world including Pakistan and he appreciated the tax relief step in the budget.

Punjab budget proposals 

According to budget proposals, the annual development programme of the province will be 337 billion rupees with a proposal to enhance the agriculture income tax rate, sources said.

Health and education have been treated as priority sectors in budget preparation, sources said. The provincial budget proposes allocation of Rs. 125 billions for primary health and Rs. 130 billions for specialized health sector with seven percent increase in allocation.

Moreover, 323 billion rupees allocation has been proposed for school education, according to the sources.

The budget also proposes 132 billion rupees allocation for police department with 17 pct raise, sources said.

Punjab budget proposes recruitment on 8519 vacancies of health professionals in the province.

Provincial budget proposals also included 10 billion rupees allowance for the health professionals fighting with the coronavirus pandemic.

The budget documents also recommend no raise in salaries and pensions of the government employees.

The budget documents also suggest allocation of 30 billion rupees for small and medium business sector along with 15 billion rupees tax relief package, sources said.