LAHORE – The Punjab cabinet on Thursday approved Rs5.43 trillion provincial budget 2024-25, a day after federal budget was presented.
The cabinet also approved the increase in the salaries of government employees by up to 25 percent, in line with federal government announcements. The pension of retired employees also saw increase by 15 percent. The government also approved Rs1 billion for the health insurance of journalists.
CM Maryam Nawaz signed provincial budget which is set to be presented in the Punjab Assembly today.
Key budget allocations include Rs595 billion for salaries, Rs445 billion for pensions, Rs840 billion for service delivery costs, and Rs700 billion for development. Notable allocations include Rs30 billion for the Ramazan Package and Rs8 billion for the Central Business District (CBD).'
The development budget will cover 1,863 schemes, with 1,617 ongoing and 246 new projects. Specific sector allocations include over Rs22 billion for roads, Rs2 billion for special education, Rs3.5 billion for literacy and non-formal education, Rs4.8 billion for sports and youth affairs, Rs76.5 billion for specialized healthcare, Rs33.89 billion for primary healthcare, Rs3 billion for population welfare, Rs2 billion for water supply and sanitation, Rs1.7 billion for social welfare, Rs14 billion for local government and community development, over Rs10 billion for industrial development, and Rs37.3 billion for planning and development.
No new taxes will be introduced in the 2024-25 provincial budget; instead, the focus will be on enhancing the recovery of existing taxes to boost resources. The government aims to increase revenue generation through the efficient utilization of natural resources and government assets.