Punjab Govt unveils over Rs2300b budget for FY 2019-20
Punjab Budget with a total outlay of over 2300 billion rupees for next fiscal year has been presented in Provincial Assembly on Friday.
Presenting budget in the House, Provincial Finance Minister Hashim Jawan Bakht said that out of total volume, 350 billion rupees are reserved for development while 1717 billion rupees for non-development purpose.
He said that an estimate of collections worth 1990 billion rupees has been ascertained for General Revenue Receipts.
Punjab is expected to receive an amount of 1601 billion 460 million rupees from Federal Government as its share from National Finance Commission Award.
In his budget speech, Punjab Finance Minister told that the total estimate of current expenditures for next fiscal year is worth 1298Billion 80Million Rupees. He said that Punjab Government, while following its policy of austerity, has proposed a meager raise of two point seven percent in current expenditures.
He said that a huge amount worth 233Billion rupees is being reserved as a surplus which will help in decreasing deficit in national budget.
He said that 350Billion rupees are being reserved for Annaul Development Program which is forty seven percent more than current fiscal year.
Finance Minister said that Punjab Government has decided to launch a comprehensive Punjab Ehsaas Program for backward and deprived segments of society. Under this program, 3billion rupees will be spent on Ba-Himmat Bazurg Program for deserving citizens, 3.5Billion rupees for Hamm-Qadam Program for special persons and 2 Billion rupees for Sarparast Program for deserving Widows and orphan children.
He said that a five year project worth 7billion rupees is also being launched for making women folk empowered economically.
Hashim Jawan Bakht told that under Punjab Ehsaas Program, network of Shelter Homes will be spread throughout province.
He told that a huge amount worth 279Billion is being allocated for health sector under which nine modernly equipped hospitals will be setup in different cities of province at cost of forty billion rupees.
Punjab Finance Minister said that a huge amount of 383Billion rupees has been allocated for education sector while eight billion rupees will be spent for provision of clean drinking water for which Aab Pak Authority has been setup.
He said that thirty five percent of development budget for next fiscal year has been allocated for progress of Southern Punjab areas.
He told that an amount of 40Billion 760Million rupees will be spent on agriculture sector, while 42Billion rupees
He said that a coordinated tourism policy has been devised under which new tourist places will be developed.
Finance Minister said that PTI Government has decided to setup new Industrial Centers and Special Economic Zones in different parts of province. He said that a major Industrial Center, Allama Iqbal Industrial City in Faisalabad at cost of 23Billion rupees.