Sources have revealed that Punjab’s budget for the forthcoming fiscal year is Rs5.39 trillion. An amount of Rs3,700 billion will be received from the federal government and a revenue target of Rs1,027 billion within the province is aimed at.
Salaries will claim Rs597bn while pensions are allocated with Rs447bn in addition to an estimated expenditure on service delivery of Rs841bn.
The Punjab Revenue Authority has set a target of collecting taxes worth Rs300bn; similarly, the Board of Revenue hopes to collect another RS105 bn as excise duties may yield around rs55Bn Meanwhile, external loan repayment requires RS121Bn.
According to sources, the development budget for Punjab is proposed to be increased by 800 billion rupees, which would make it more than one trillion Pakistani Rupees (PKR).
An estimated 30 billion rupees has been proposed as part of the Ramadan Package, followed by 8 billion for the Central Business District Development Authority and 600 billion PKR for the education sector. The health sector will also get special attention through an allocation worth Rs406 bn, while another Rs9.8 bn has been made available under the Chief Minister’s Roshan Gharana Programme, along with seven billion under the Apni Chhat Apna Ghar Scheme.
Rs40 billion might go into the Green Pakistan Initiative if things work out well enough during discussions among decision-makers. But this is still subject matter for consideration rather than a final decision taken so far based upon recommendations only or suggestions. Made by some people who know what they are talking about, etc.
Furthermore it is recommended that one billion should be allocated as an endowment fund for journalists.
Development Budget
The detailed budget proposal demonstrates that Punjab wants to achieve development through different sectors while still providing services where necessary. The government has shown commitment to improving education and health facilities because such investments help in enhancing human capital. Which acts as an engine for growth. As well as improving public welfare. Especially among vulnerable communities like children from poor backgrounds or those living with disabilities etc. Besides, green initiatives are given priority, such as planting trees across cities. Which not only beautifies them but also helps reduce global warming effects caused by human activities. Like burning fossil fuels for energy production purposes.
Another important point highlighted here is the need to support journalists. Who play a critical role in society’s development process through their work. Hence, this recommendation suggests that more funds should be set aside for this purpose. We can also add that media organizations have been lobbying for such government intervention. But so far, nothing has been done about it.
In overall terms, what we can say about these proposals is that they seek to address both. Short-term welfare requirements as well as long-range development objectives while ensuring growth becomes sustainable. Therefore benefiting people within the Punjab province at large. This holistic approach will create an enabling environment where economic gains go hand in hand with social progress. Thereby setting the stage for a prosperous future for all citizens.
