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Punjab govt to present budget today

Punjab govt to present budget today

LAHORE: The Punjab government will present their financial budgets for the year 2019-20 today.

Punjab Finance Minister Hashim Jawan Bakht will present the budget in the provincial assembly

According to sources, Punjab’s financial budget for the year is Rs2,550 billion out of which Rs350 billion have been allocated for development projects and Rs2,200 billion for non-developmental projects.

Sources further said an increase in the salary of government employees has been proposed along the same lines as federal employees. A 10 per cent increase has been proposed for grade 16 employees while a five per cent increase has been recommended for grade 17 to 20. No increase has been proposed for grade 20 and 21 officers.

Punjab’s new budget also includes a proposal for completing mega projects under the public-private partnerships, while the finance department has declared new budget tax-free and a surplus of Rs200 billion.

The new budget also has increased the rate of pre-existing taxes and departments have been emphasised to reduce non-developmental expenditure, sources added.

Sources added provincial departments will be obligated to take permission for expenses including vehicles, furniture and other beforehand.