Sindh Govt All Set To Unveil Budget Exceeding Rs3tr For FY 2024-24 Today


Sindh govt all set to unveil budget exceeding Rs3tr for FY 2024-24 today

Sindh is expected to implement a 20-25% salary increase for government employees and a 15% pension increase.

ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-June 14th, 2024) The Sindh government is set to unveil a budget exceeding Rs3 trillion for the fiscal year 2024-25, following the presentation of the Federal and Punjab budgets.

In this upcoming budget, Sindh is expected to implement a 20-25% salary increase for government employees and a 15% pension increase. The minimum wage will likely be aligned with the levels set by the federal and Punjab governments. Additionally, the province’s development budget is anticipated to surpass 900 billion rupees.

The budget will allocate 12 billion rupees for major projects in Karachi. Instead of introducing new schemes, a new portfolio will be added to the provincial development program. There will be an increase in the target for provincial revenue collection, along with proposed adjustments to various tax rates.

In an effort to cut costs, the provincial government plans to reduce vehicle purchases and adopt austerity measures for the procurement of furniture and other items. Proposals include promoting video conferencing to reduce official foreign trips.

Meanwhile, amid opposition protests, Punjab has presented a tax-free budget totaling 5 trillion 446 billion rupees.

The estimated total revenue stands at 4 trillion 643 billion 40 crores, with 3 trillion 683 billion 10 crores expected from the federal government under the NFC award. Provincial revenue is projected at 960 billion 30 crores, marking a 54% increase from the previous year. No new taxes or tax rate increases have been introduced in this budget.

Punjab's development projects have been allocated 842 billion rupees. The budget also includes a 20-25% salary increase and a 15% pension increase, with the minimum wage proposed to rise from Rs32,000 to Rs37,000. Additionally, Punjab has announced free solar power for households using up to 100 units of electricity.

Allocations in Punjab’s budget include Rs30 billion for a farmers' tractor scheme, 10 billion rupees for the “Apna Ghar Apni Chhat” program, and Rs2 billion for the “Nigehbaan Card”.

The Chief Minister’s “Roshan Gharana” program will receive 9 billion 50 crores, and 10 billion rupees are proposed for a laptop distribution scheme.