Punjab unveils Rs2,650b budget 2021-22

05:12 PM | 14 Jun, 2021
Punjab unveils Rs2,650b budget 2021-22

LAHORE – Punjab Finance Minister Makhdoom Hashim Jawan Bakht on Monday presented the budget for the financial year 2021-22 in the Punjab Assembly amid ruckus by the opposition lawmakers.

This was the maiden budget session held in the newly-constructed building of the Punjab Assembly.

Earlier, the Punjab cabinet approved the budget proposals. Provincial ministers, advisors, special assistants, chief secretary and concerned secretaries attended the budget session.

Key points

Total Outlay: Rs2653 billion

10pc raise for govt employees

The Punjab government has proposed a raise of ten percent increase in salaries and pensions of government employees in Budget 2021-22.

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Tax cuts

Punjab Finance Minister Hashim Jawan Bakht while presenting the budget said that 16% sales tax on ten services will be reduced to 5% in the next fiscal year.

  • Rental bulldozers services
  • Dress designers
  • Warehouse services
  • Construction machinery services
  • Town planners
  • Beauty parlors
  • Fashion designers
  • Dry cleaners
  • Architect
  • Home chefs

Rs560 billion for development

The Punjab government earmarked Rs 144 billion for current developmental schemes, Rs 167 billion for new development schemes, Rs 100 billion for district development programme; Rs 44 billion for miscellaneous programmes, Rs 83 billion for development schemes initiated through foreign assistance, and Rs 25 billion for development schemes under public-private partnership.

Around Rs30 billion will be added for Punjab’s road infrastructure, under PSDP and a package worth Rs50 billion is being suggested for Covid-hit business sectors.

Rs442 billion for education

The provincial government has increased the education budget by 13 percent from last year and has allocated Rs442billion for the sector with a programme which includes establishing seven new universities in the province including an engineering university in Sialkot city with Rs7billion.

Rs400 billion revenue target

The Punjab government has fixed the target of more than Rs400 billion of provincial revenue (both tax and non-tax revue) for the fiscal year 2021-22, which is 28% higher than the ongoing fiscal year target.

Rs370 billion for health

The government has decided to give a blanket cover of health insurance card to the entire population of the province and has allocated Rs80 billion for the project. A long-awaited air ambulance service project will also be initiated with initial seed money.

Rs189 billion allocated for South Punjab

For the first time in the history of the province, a separate annual development plan to the tune of Rs189 billion is allocated for south Punjab, while these schemes would also be published in separate budget books. The funds allocated for the south Punjab will not be used anywhere else, and out of total development schemes, a minimum of 35 percent would be allocated for south Punjab in each sector.

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Rs28 billion for Lahore

The Punjab government allocated over Rs28 billion for the provincial capital. The projects include the establishment of a new 1000-bed modern hospital in the city, a surface water treatment plant, underpasses, and flyovers.

Rs31 billion for agriculture transformation

The Punjab government has made a whopping increase of over 300% in the agriculture development projects in order to ensure food security and increase agricultural productivity. The government has allocated more than Rs31 billion for the agriculture transformation programme. Rs5 billion have been allocated for livestock and dairy development projects, Rs5 billion have been earmarked for the improvement of watercourses.

Rs9 billion for water, sanitation

For water and sanitation projects, the Punjab government has allocated Rs9 billion through which it will establish wastewater treatment plants in Lahore, Faisalabad, Sialkot, and other megacities alongside solid waste management and drinking water projects.

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