LAHORE – The Provincial Minister for Finance, Planning and Development Tanvir Ashraf Kaira has said that Punjab’s share, as per the new NFC award, would be augmented by Rs 100 billion in the current year. However, there is a dire need to increase province’s resources by substantially expanding the tax-net.
He expressed these views while addressing MPAs during a pre-budget briefing session organised by PILDAT. He said that the government would consider suggestions by assembly members during the pre-budget session of Punjab Assembly. He assured that viable suggestions would be included in the coming budget. He stated that Punjab receives 81 percent of the funds from the Federal Government. Effects of a shortfall in revenue collection would imply on provinces and budgetary estimates would also get disturbed. Tanvir Ashraf Kaira said that there is a need to remove short-comings in the tax collection system. In addition, there is a need to increase resources of the provinces to ensure the provision of funds to the development projects. He said that corruption in the contracting system is evident and the quality of construction work is also not up to the mark. Corruption must be curbed in awarding contract and to improve the quality of work simultaneously. The minister further lamented that Pakistan is shy from documentation of economy and nobody wants to register as a documented taxpayer. However, we should enhance our resources at every cost and evolve a comprehensive tax strategy. On this occasion Provincial Minister for Law Rana Sana Ullah Khan, Planning and Development Board Chairman Javaid Aslam, Finance Secretary Tariq Bajwa and MPA Mohsin Leghari also spoke on this occasion.
Punjab’s share to increase by Rs 100b
