Search

Punjab unveils Rs5.446 trillion Budget 2024-25 with focus on development, welfare

08:44 AM | 13 Jun, 2024
Punjab unveils Rs5.446 trillion Budget 2024-25 with focus on development, welfare

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

---------------------------------------------------------------

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.

Daily Pakistan Global Web Desk

Advertisement

US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 15 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 15, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)       
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25 303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65



Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter