Punjab presents Rs4.48 trillion budget for next three months
March 18, 2024
The newly elected Punjab government Monday tabled a public-friendly budget worth over Rs 4,480 billion for the rest of the three months of the ongoing fiscal year in the provincial assembly.
Punjab Finance Minister Mian Mujtaba Shuja ur Rehman presented the budget in the House.
In his budget speech, the finance minister said that a total income has been estimated at Rs3,331.7 billion. He said that under the NFC Award, Punjab will get Rs2,706.4 billion from the federal divisible pool, reported Radio Pakistan.
Provincial revenue is projected to reach Rs625.3 billion, which is 25% more than the previous fiscal year, he added.
Out of them, the Punjab Revenue Authority will generate Rs240 billion, the Board of Revenue Rs99.2 billion while the excise department will generate revenue worth Rs45.5 billion.
The finance minister said that under the Rs30 billion Ramadan Nigehban Package, special hampers are being delivered at the doorsteps of deserving families for the first time in the province’s history.
He said that Rs10 billion have been allocated for Pakistan's largest Nawaz Sharif IT City in Lahore while Rs4 billion for IT Infrastructure Investment Program.
The minister said that the Provincial Database Authority is being set up at a cost of Rs500 million.
For the education sector, a total allocation of over Rs595 billion has been reserved which makes 26% of the total non-development provincial budget, he added.
Mujtaba said that the new government would launch a five-year Health Reforms Programme and a grant allocation of over 473 billion has been made for the health sector during this fiscal year.
The finance minister said that four overhauling programmes for the improvement of rural health centres and basic health units have been launched which will cost Rs40 billion. He said that Nawaz Sharif Institute of Cancer Treatment and Research is being set up in Lahore with an estimated cost of Rs30 billion.
In addition to this, a grand programme to construct and repair the 80 roads and highways throughout the province, on which Rs320 billion will be spent.
