Proposals to increase taxes further rejected, possibility of following the federal government in salaries and pensions
Lahore: The Punjab government has prepared a development budget of Rs 1,200 billion for the financial year 2025-26. The Development and Planning Department has submitted this budget draft to the Punjab Chief Minister.
Compared to the current financial year, the next financial year will also have the largest surplus budget in the history of the province. The Chief Minister rejected the proposal to impose new taxes in the budget and directed that the scope of taxes be expanded.
According to sources, the size of the Punjab development budget is likely to be proposed at Rs 1,200 billion. According to sources, in the budget for the next financial year, it is proposed to keep Rs 9 billion for the Chief Minister Punjab Schools Meal Program, Rs 10 billion for the Chief Minister Tractor Program, and Rs 750 million for the construction and repair of the Agriculture House, and this project will be completed in three years.
According to sources, the salaries of government employees and pensions of retired employees are likely to be followed by the federal government, and an increase of Rs 110 billion has been proposed for the education development budget and Rs 90 billion in the health budget.
The Punjab government has decided to focus on tourism and in this context, a 600 percent increase is expected in the budget for the next fiscal year.
On the other hand, according to Chief Secretary Punjab Zahid Zaman, the Chief Minister rejected all proposals to increase taxes in the budget and directed that the existing tax net be further expanded so that no new burden is placed on the people.
It should be noted that the Punjab government has changed the date of presenting the provincial budget, now the provincial budget for the fiscal year 2025-26 will be presented on June 16 instead of June 13.
