Rs 2,026.51bln Budget Presented In Punjab Assembly

Provincial Finance Minister Makhdoom Hashim Jawan Bakhat presented the Punjab budget for remaining eight months of the current financial year (FY) 2018-19 (November 18 to June 19) with total outlay of Rs 2,026.51 billion in the Punjab Assembly (PA) session here on Tuesday.

LAHORE, (UrduPoint / Pakistan Point News - 16th Oct, 2018 ) :Provincial Finance Minister Makhdoom Hashim Jawan Bakhat presented the Punjab budget for remaining eight months of the current financial year (FY) 2018-19 (November 18 to June 19) with total outlay of Rs 2,026.51 billion in the Punjab Assembly (PA) session here on Tuesday.

Giving break-up of the budget in the house, he said that General Revenue Receipts for FY 2018-19 were estimated at Rs 1,652 billion, while the province was expected to get Rs 1,276 billion from Federal Divisible Pool. He said that total provincial revenue was estimated at Rs 376 billion including Rs 276 billion under the head of taxes and Rs 100 billion under non-taxes.

Hashim Jawan Bakhat said that total estimates for ongoing expenditures were Rs 1,264 billion, containing Rs 313 billion for salaries, Rs 207 billion for pension, Rs 438 billion for local governments and Rs 305 billion for service delivery.

He said that the service delivery expenditures would basically be provided for provision of education, health facilities to people, law and order, transfer of powers at grass-roots level, provision of clean drinking water and other necessary services.

The finance minister said that it was proposed to allocate a sum of Rs 238 billion for development, adding that poor and ill-conceived policies of the previous regime made it inevitable to reduce development budget for the current fiscal year.

He, however, assured the house that the PTI government would usher in a new era of development in the years to come by ensuring the best financial discipline and planning.