Draft of Rs8 trillion Punjab budget for new financial year prepared

Published: 01:04 PM, 17 May, 2023
Business
Draft of Rs8 trillion Punjab budget for new financial year prepared
Caption: Representational image.

The draft of the Rs8 trillion worth first budget for the new financial year has been prepared, reported 24NewsHD TV channel on Wednesday.

The Planning and Development (P&D) Board prepared a report based on preliminary recommendations in the development budget for the financial year.

More than Rs60 billion were estimated in the first draft of Lahore.

In the new financial year 2023-24, the size of the development budget has increased by Rs150 billion as compared to the last year.

Due to rising inflation, the cost of ongoing development projects has doubled.

The bottlenecked funds in the supervisory setup also led to the doubling of the cost of development projects.

After the examination of the first draft, final recommendations are being prepared, the officials said.

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Ali Ramay

Ali Ramay is a Senior Investigative Reporter associated with Pakistan's City News Network (CNN). He has been associated with the CNN group since 2013 and mainly covers investigative stories in departments under the Punjab Government.