PML-N-led Govt Presented People-friendly Budget For Punjab: Leghari

Provincial Minister Sardar Awais Ahmad Khan Leghari said on Wednesday that in the prevailing economic conditions of the province, it was very difficult to present a balanced budget but the able leadership of ruling PML-N accepted this Herculean task and managed to present a people-friendly budget (FY 2022-23) with focus on providing social protection to the common man

LAHORE, (UrduPoint / Pakistan Point News - 15th Jun, 2022 ) :Provincial Minister Sardar Awais Ahmad Khan Leghari said on Wednesday that in the prevailing economic conditions of the province, it was very difficult to present a balanced budget but the able leadership of ruling PML-N accepted this Herculean task and managed to present a people-friendly budget (FY 2022-23) with focus on providing social protection to the common man.

In his budget speech in Punjab Assembly session here at Aiwan-e-Iqbal, he mentioned that global financial crunch, high global oil prices and decreased exports of the country were the major factors marred Pakistan's economy. While the PTI led previous government, he added, had also played havoc with the provincial economy on all fronts particularly the CPEC due to its bad governance and inapt handling of the affairs. The last three-and- half years of PTI led coalition government had been worst years in terms of development. Contrary to this, he recounted, during last PML-N government Pakistan had been advancing speedily on economic and all other fronts; stock market was bullish; USD 51 billion investments made under the CPEC projects; energy shortfall/load-shedding was over due to commissioning of new power projects; the industry and businesses had been flourishing; all major sectors such as social, infra-structure, health and education had been improving; comprehensive and effective relief measures and employment opportunities had brought prosperity in the life of common man, while all the international institutions had acknowledged the performance of the then PML-N government.

Despite all odds, he said, the present government was presenting a balanced and pro-poor budget for financial year (FY) 2022-23 with a total outlay of Rs 3,226 billion out of which a hefty amount of Rs 685 billion has been allocated under Annual Development Programme (ADP) and no new tax has been imposed in the budget.

Provincial Minister said that Punjab has estimated its total revenue collection at Rs 2,521.29 billion under which Punjab would receive Rs 2020.74 billion from Federal Divisible Pool, while provincial receipts (Own Resource Revenues) are estimated at Rs 500.53 billion for FY 2022-23, 24 per cent higher than Rs 405 billion of FY 2021-22. Out of own resource revenue, Leghari said that Punjab Revenue Authority's (PRA) collection target has been set at Rs 190 billion with 22 per cent increase, board of Revenue (BoR) collection at 95 billion with 44 per cent raise and Excise and Taxation Deperatment's collection at Rs 43.5 billion with two per cent increase. While, 24 per cent hike is estimated under the head of Non-Tax Revenue having target of Rs 163.53 billion for next fiscal year starting from July 1, 2022, he mentioned.

The government, he said, is going to allocate Rs 435.87 billion for salaries of public sector employees, Rs 312 billion for pension and Rs 528 billion for local governments.