The Punjab government introduced a Rs5.4 trillion budget, marking it the first tax-free budget under the current administration.
Punjab Finance Minister Mujtaba Shuja-ur-Rehman, who announced the budget, highlighted that no new taxes would be imposed for the upcoming fiscal year. Instead, revenue collection is expected to increase by 50% through alternative strategies.
The budget includes an Annual Development Programme (ADP) of Rs842 billion, featuring 77 new mega projects. The revenue target for the next year is set at Rs 960 billion.
Regarding employee benefits, the minimum wage has been raised from Rs32,000 to Rs37,000, and government salaries will see up to a 25% increase.
New financial allocations include Rs1 billion for the Minority Development Fund and Rs6 billion for a laptop scheme. Additionally, Rs5 billion has been designated for the Pakistan Kidney and Liver Transplant Institute Endowment Fund.
The finance minister also noted a reduction in the inflation rate to 11.8% and significant cuts in government spending.
Revolutionary health sector initiatives have been launched in Punjab, alongside the provision of free Wi-Fi at several locations. Solar panels will be distributed to electricity consumers using less than a hundred units for energy efficiency, and easy loans will be available for building homes up to five marlas.
The Punjab cabinet, led by Chief Minister Maryam Nawaz, approved this tax-free budget earlier today in Lahore. The Chief Minister assured that maximum efforts would be dedicated to fulfilling the promises made to the populace.
