Punjab Minister for Finance Dr Ayesha Ghous Pasha will present the provincial budget 2017-18 in the Punjab Assembly Session on Friday, June 2, at 2.30 pm.
In the budget for FY 16-17, Rs 550 billion were allocated for the Annual Development Programme, Rs 168.87 billion were apportioned for social sectors that included education, health, water supply and sanitation, women development and social security, and infrastructure. The social sector is expected to be the focus of the budget for FY 17-18, as well.
Chief Minister Shahbaz Sharif has convened a meeting of the Provincial Cabinet to formally approve the budget before presenting it to the House.
“The budget will be poor-friendly and no new taxes will be imposed on the poor,” an official at the CM Secretariat said.
Following in the footsteps of the federal government, the minimum wage will be raised to Rs 15,000. The salaries and pensions of government employees will also be increased by 10 per cent.
Punjab finance minister Dr Ayesha Ghous Pasha, in recent meetings, had already expressed her commitment towards expanding tax net instead of levying new taxes on the taxpayers.
Special measures will be taken for facilitating businesses and increasing export. Reforms will also be introduced for enhancing local products.
Public-Private Partnership will be further promoted so that job opportunities could be created. Interest free loans will be provided for promoting SMEs.
Priority will be given to the immediate needs and to the completion of on-going projects over all other projects. No new tax will be levied in the Punjab budget; however, sales tax will be imposed on more services than before, to broaden the tax net. Tax recoveries will be simplified for redressal of problems of the traders’ community.
