LAHORE – The Punjab government on Friday unveiled its budget with a totaloutlay of over Rs2,300 billion for next fiscal year in provincial assembly.
Presenting budget in the House, Punjab Finance Minister Hashim Jawan Bakhtsaid that out of total volume, 350 billion rupees are reserved fordevelopment while 1717 billion rupees for non-development purpose.
He said that an estimate of collections worth 1990 billion rupees has beenascertained for General Revenue Receipts.
Punjab is expected to receive an amount of Rs2.061 trillion from thefederal government as its share from National Finance Commission Award.
For the first time, budget is equally distributed among all regions ofPunjab, with 35% for South, 33% for north region
Ahead of the budget session at the Punjab Assembly, the provincial cabinetmet in the morning and approved the budget for 2019-20 and finance bill2019.
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The provincial government, in line with the federal government’s move,decided to impose 10pc cut on the salaries of provincial ministers. Thematter has been reflected on the cabinet agenda for final approval.
The Punjab government is expecting its share of Rs1.5 trillion from thefederal divisible pool as against current financial year’s original shareof Rs1.27tr.
The government is expecting Rs27bn from foreign project assistance,Rs33.5bn current capital receipts and Rs237.7bn loans for food (wheat)procurement.
