It also recommends a 20 percent increase in pensions of public servants who retired on 30 June 2002 and a 15 percent increase in pensions of public servants who retired on or after July 1, 2002. The Finance Minister stated that in the next fiscal year conveyance allowance would be given to all the government employees throughout the province. He also announced a 25 percent increase in the conveyance allowance from grade 1 to 15 employees. He said this would be applicable throughout the province from July 1, 2011.
Finance Minister said that General Revenue Receipts in year 2011-2012 would be Rs 654.67 billion and income derived from divisible pool under NFC award was expected to be Rs 530.80 billion. In the proposed budget Rs 88.51 billion are expected from provincial tax revenue, while Rs 35.65 billion are expected from non-tax revenue. These revenue figures are 15 percent more than the current fiscal year.
Finance Minister said that Punjab government taking notice of unemployment of the educated youth was allocating billions of rupees under a Self-Employment Scheme. He said in a three-phase programme 20,000 yellow cabs would be given to educated unemployed youth and Rs 4.50 billion have been earmarked for this scheme.
Michael said that these cabs would be distributed on divisional basis according to population and South Punjab that was 31 percent of Punjab population would get priority under this scheme. Giving further details he said 800 cc Mehran and Bolan cars would be distributed through this scheme.
Giving further details Finance Minister said that 12.5 to 25 acre land was being given on 15-year lease to agricultural and veterinary graduates. In order to establish model agricultural farms, Rs 900,000 was being given to these educated unemployed youth, he said adding that in fiscal year 2011-2012, 3,000 such plots would be given. He said that Rs 20,000 interest-free loans would also be given to 100,000 educated talented people in proposed budget 2011-2012.
Punjab Minister stated that in order to establish energy projects Rs 9 billion have been allocated in the next fiscal year. He said that with an increase of Rs 9 billion, Rs 30 billion were being earmarked for pro-poor schemes in the next fiscal year.
For the development of educational sector, a 12.31 percent increase is being made in next fiscal year while Rs 3 billion are allocated for the construction of Danish Schools. On the educational development measures, he said that Rs 23.9 billion were kept under this head in next fiscal year and Rs 14.8 billion were allocated for health development. Rs 52.82 billion have been allocated for law and order showing an increase of 6.2 percent.