LAHORE: The Punjab government will unveil the budget on Monday (today) for the fiscal year 2022-23 with a total outlay of around Rs 3 trillion.
The overall volume of the budget is expected to be 22 percent more than the previous budget. Last year, the PTI-led Punjab government presented a Rs 2.653trillion budget with an allocation of Rs 560 billion for the Annual Development Programme (ADP) which has been increased to Rs680 billion.
Punjab Chief Minister Hamza Shehbaz issued the order of presenting Punjab’s budget for the next financial year 2022-23 to PML-N lawmaker Awais Leghari. The budget speech has also been delivered to Awais Leghari by the Punjab Finance Department.
According to Punjab Finance Department, this year the Punjab budget will be in line with the federal budget, focusing on pro-poor initiatives and controlling inflation.
Moreover, no new tax will be imposed in the budget while existing special concessions and incentives will continue. To minimise the hardships of businesses, trade, and commoners due to the energy crisis, the government has decided to continue the tax relaxations and exemptions given during the last two years.
Hamza Shehbaz said that the budget for the next financial year will be people-friendly. He said the budget will introduce a special aid package to control inflation. He added the provincial budget will ensure efficient use of energy to reduce load shedding.
Punjab CM further said that special discounts will be given to low-income people in paying their electricity bills. No new tax will be levied in the budget of Punjab for the next financial year, adding that the concession given in provincial revenue during the budget will be maintained.
He said the facility package of availability of flour at low prices will be continued in the next financial year. He said a large of the budget will be spent on achieving development goals.
In Punjab’s next financial year’s budget, the first priority of the government will be to develop the social sector and revive the economy. He said many important initiatives will be introduced in the field of education, health, agriculture, and communication.
The Punjab CM added the next budget will ensure the solution of public problems at the district level to achieve the sustainable development goals. He said it will bring good news for both government employees and the working class.
