LAHORE: Punjab’s Finance Minister Dr. Ayesha Ghaus Pasha will announce Rs. 1.65 trillion provincial budget for the fiscal year 2016-2017 today with major focus on existing development projects.
Punjab Assembly secretariat has issued the notification to present the budget in the 22nd session of Punjab Assembly. The session will be presided over by speaker Rana Muhammad Iqbal.
Earlier, Dr Ayesha briefed media about the budget and said that the budget of the province would be a developmental budget in which increase in growth rate, social welfare projects, health, and public friendly tax collection system would be introduced.
She pointed out that the no additional tax will be imposed in the new budget.
Earlier on Saturday, senior minister for finance Syed Murad Ali Shah presented Rs. 869.12 billion (17.5% increased) Sindh budget for 2016-17 here at Sindh Assembly.
During his budget speech, Shah pointed out that no new tax has been introduced. He held that it was meant to provide relief to the common people. Sales tax has also been decreased from 14% to 13%.
Minister said that the total revenue expenditure is estimated to grow by 13.8 percent to 572.76 billion rupees in 2016-17. Significant amounts set aside include Rs. 160.7 billion for education sector and Rs. 55 billion for health sector. (Harboring on the topic of health the Minister also noted that there has been a significant decrease in Polio cases last year).
