The minister said that the government has converted its overdraft into loan by taking State Bank's facility and this loan would be paid within four years. "Instalments of loans are being paid regularly and so far Rs 4.24 billion has been repaid," he added.
He also said the fiscal position of the province is very sound and we are trying to reduce the non-development expenditures of the government on war-footing grounds. "There is no reduction in development expenditures but a committee is working to reduce non-development expenditures. The State Bank has fixed the limit of overdraft of Punjab up to Rs 27 billion and we are working within this limit," he added.
The minister said various proposals are under consideration to enhance the tax net in new budget because it is imperative to allocate more funds for the welfare of people. "It is the need of hour that the ratio of taxes should be rationalised and a comprehensive strategy should be evolved to stop tax theft so that public money should be spent on public welfare," he added.