LAHORE – Punjab Finance Minister Mujtaba Shujaur Rehman on Thursday unveiled the budget 2024-25 with total outlay of Rs5,446 billion in the Punjab Assembly amid uproar by the opposition parties.
Key Takeaways of Budget 2024-25
Rs842 billion allocated for development budget
Free solar setup for those consuming up to 100 units per month
Loan to be provided to those building houses of up to five marlas
Rs75 billion allocated for interest-free loans for farmers
Establishment of Minority development fund
Rs1.873 trillion allocated for Police department
Rs1.70 trillion for agriculture sector
Rs63.16 billion for Irrigation department
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Members of the opposition partied tore up the copies of the proposed finance bill as they surrounded the finance minister’s seat as he was reading out the budget speech.
The provincial government has dubbed it its “first tax-free budget” as no new taxes have been announced in the budget proposal. The government has decide to strengthen its tax collection system.
Salaries and Pensions Increased
The Punjab government has increased the salaries of the government employees by up to 25 percent. The officials of Grade 1 to 16 will get 25% increment while the officers of Grade 17 and above will get 20% increase in salaries. The provincial government increased the pension of the retired employees by 15 percent.
Development budget
A sum of Rs842 billion has been allocated for the development budget. The government has set aside Rs30 billion for Ramadan Relief Package and Rs8 billion for the Central Business District (CBD).
The government has also announced funds to restart various dead schemes across the province. It has earmarked Rs22 billion for development of roads.
Education
The provincial government has set aside Rs69.74 billion for education sector.
Healthcare and Social welfare
The government has proposed the allocation of Rs76.5 billion for specialised 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 and others.
Local government
The government has allocated Rs14.4 billion for the local government in Punjab.
Sports
The government earmarked Rs50 billion for the sports in Punjab.
Minimum wage fixed at Rs 37,000
Following the federal government, the Punjab government also set minimum wage at Rs 37,000, which is Rs5,000 up as compare to previous fiscal year.
Laptop scheme
The government has allocated Rs10 billion for the laptop scheme in the province.
Budget 2024-25: Mobile phone prices to go up in Pakistan as 18 tax proposed
