Punjab govt to unveil Rs2600b tax-free budget today
The government of Punjab will present its provincial budget for the fiscal year 2021/22 today (Monday) with a total outlay of Rs2,600 billion, proposing no new tax and suggesting a 10% increase in salaries and pensions, reported 24NewsHD TV channel.
According to the provincial budget documents obtained by the 24News, the provincial government will present a Rs2,600 billion outlay budget later today.
The government will not impose any new tax and will give a tax relief amounting to Rs50 billion. The budget proposes a 10pc increase in government employees’ emoluments and retired employees’ pensions.
As per the documents, Rs560 billion have been set aside for development projects. And funds for education and health will be increased. Rs10 billion have been allocated for the members of the ruling party.
It is proposed to set a tax revenue target of Rs3.7 trillion. 2.5 million low-cost housing units will be part of the budget.
Allies’ huddle to discuss budget
Before the holding of the parliamentary party meeting, the government allies held a conference to discuss the budget on Monday.
Punjab Chief Minister Usman Buzdar, Speaker Punjab Assembly Ch Pervaiz Elahi, Provincial Law Minister Raja Basharat, Abdul Alim Khan and Punjab Finance Minister Hashim Jawan Bakht attended the meeting.
The allies confirmed their support to get the budget passed by the assembly.