Punjab presents Rs 2,240b budget for FY 2020-21

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Punjab presents Rs 2,240b budget for FY 2020-21

ISLAMABAD-Provincial Finance Minister Makhdoom Hashim Jawan Bakhat presented the

Punjab budget for financial year (FY) 2020-21 with total outlay of Rs 2,240.7 billion,

including Rs 337 billion, for development, in the Punjab Assembly

session here on Monday.

Giving break-up of the budget in his speech during the assembly session, the finance minister

said that under the National Finance Commission (NFC) Award, Punjab will receive

Rs 1,433 billion, while provincial receipts (Own Resource Revenue) are

estimated at Rs 317 billion during financial year 2020-21.

Terming the provincial budget as progressive and pro-business in the given circumstances,

Hashim Jawan Bakhat added that on-going expenditure for the next FY has been

estimated at Rs 1318 billion containing Rs 337.6 billion for salaries, while Rs 337 billion

has been allocated for development expenditures, Rs 128.40 billion for capital expenditure,

and Rs 125 billion as estimated provincial surplus.` The government has also reduced Service Delivery Expenditures by Rs 10 billion and increased the local governments’ budget by Rs 10 billion,

he said and added that it was also proposed to save more than Rs 19 billion

through Pension Reforms.