Ministers welcome tax-free budget of Punjab with highest ADP

The Pakistan Muslim League-N (PML-N) government in Punjab has presented a tax-free and surplus budget of Rs 5,446 billion, with the largest ADP (annual development program) for FY 2024-25, mainly focusing on social sector and infrastructure development, manufacturing sectors, service sectors and special initiatives for human well-being and poverty reduction.

This budget is not a numerical exaggeration, but a consolidated document, fully covered by cash and the result of the effective and well-thought-out policy of the current government. Full cash coverage of surplus revenues, especially provincial own revenues, will ensure full utilization of the ADP, thereby providing maximum relief to the common man. Senior Provincial Minister for Planning and Development (P&D) Marriyum Aurangzab and Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman stated this while addressing the Budget Review Conference held here on Friday. The senior minister said an elected government was already in place and “we have been running away from politics for politics and blame games and we will have to make concerted efforts for the welfare of the people.” The opposition has a constitutional right to criticize, and the government will happily accept its objections, which it considers to be better for the people and the country, she added. She said that under the leadership of Chief Minister Maryam Nawaz, the Punjab government is organizing comprehensive activities such as promotion of information technology and skill development among youth, women, transgender community and minorities. The government’s priority sectors are education, health, IT, agriculture, infrastructure and law and order. She explained that the government had allocated more funds for the above sectors, stating that a total of Rs539 billion had been allocated for the health sector with an ADP of Rs129 billion; The education sector has been allocated Rs670 billion of the Rs66 billion ADP; Local governments will receive R321 billion of the R62 billion ADP; The agriculture budget is Rs 117 billion, of which Rs 65 billion ADP; R375 billion will be spent on infrastructure; and R220 billion for law and order.

She said that in the next financial year, the government would provide grants in various sectors including agriculture amounting to Rs 26.6 billion; Transport 24.3 billion rupees; and R100 billion for special initiatives. Finance Minister Mian Mujtaba said the 842 billion rupees ADP is 28 percent more than the previous financial year 2023-24, which included 655 billion rupees in this regard. He explained that of the development budget, 33 percent would be spent on Social Sector, 29 percent on Infrastructure, 13 percent on Manufacturing Sector and 5 percent on Services Sector and 20 percent on Special Programs/Initiatives. The Finance Minister said that the total revenue collected was estimated at Rs 4,643.40 billion; 3,683.10 billion rupees will be received from the federal divisible pool; Provincial revenues (own resources revenue) are estimated at Rs 960.30 billion (54% higher than the current fiscal year) for FY 2024-25, while non-tax revenues are estimated at Rs 488.40 billion (111% higher than in the current financial year). FY). On property tax, he explained that Rs 29 billion would be received from this amount after revision of DC rate table after 10 years, but it would be implemented from January 1, 2025. He said that the property tax revenue would be up to Rs 5.50 billion if the DC rate table were updated every five years. He explained that there have been no changes to the ratio of traffic fines to fines, adding that the last interim government increased the ratio of traffic fines that are currently enforced. The Senior Minister for P&D said that the Punjab government has allocated Rs 9.5 billion for Prime Minister Roshan Gharana Scheme and Rs 80 billion for Sustainable Development Goals (SDGs) for district ministers in FY 2024-24.