Punjab Presents A Balanced Provincial Budget Of Rs. 1681 Billion

Provincial Minister for Finance Dr. Ayesha Ghaus Pasha today presented a balanced provincial budget of Rs. 1681 billion 41 crore for financial year 2016-17. Addressing Punjab Assembly, Ayesha Ghaus Pasha said that education, health, agriculture, water supply and law and order sectors will be priorities of the government during next fiscal years. She said that the motto of PML-N government is setting up of a society based on public welfare, economic development and justice and the new budget is a step in this direction. She said that general revenue recovery is estimated at 1319 billion rupees while 39 billion rupees are estimated to be the share of the province under NFC Award from federal taxes. She said that a sum of 280 billion rupees is expected as provincial revenue, 184 billion 40 crore as taxes and Rs. 95 billion 61 crore as non-tax revenue. She said that Rs. 804 billion which are 57 percent of the total budget have been allocated for education, health, agriculture, water supply and law and order. She said that 47 percent more than last year will be spent on education sector while 71 percent more funds on school education development is the budgetary proposal for the next year. The Finance Minister said that the development budget for health sector will be increase by 62 percent during next financial year. Similarly, an increase of 47 percent will be made in the budget allocated for agriculture, irrigation, livestock, forests, fisheries and food. The budget allocated for water supply has been increased by 88 percent. the Minister said that the volume of development programs will be 550 billion which will be 37.5 percent higher than the last year. She said that five lakh job opportunities will be created as a result of development programmes during next fiscal year. She said that the budget of PML-N is aimed at service to the poor people and development of the province. She said that under the leadership of Chief Minister Muhammad Shehbaz Sharif, all out energies will be spent on achieving the goal of progress and prosperity of the province. She said that Punjab government has decided to make an increase of ten percent in the salaries and pension of provincial government employees under the formula given by the federal government.

Source: Government of the Punjab