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  • Jun 13th, 2015
  • Comments Off on Punjab budget nurses ambitions for high growth
Punjab government on Friday presented a development-oriented budget with a total outlay of Rs 1447.2 billion for fiscal year 2015-16, allocating Rs 400 billion to province's Annual Development Programme (ADP). This is the third budget of the 16th Punjab Assembly chaired by Speaker Rana Muhammad Iqbal. The budget was presented by Finance Minister Dr Ayesha Ghaus Pasha. In the proposed Punjab budget Provincial Consolidated Fund is estimated as Rs 1,447,241.814 while General Revenue Receipts figures remain at Rs 1,144,558.319.

-- Rs 1.45 trillion outlay

-- Rs 400 billion ADP

The Finance Minister Punjab dilated that province would get Rs 888.50 billion from the Federal Divisible Pool. She stated that this amount is to be received under the NFC Award. She stated that provincial government while creating one million jobs annually intends to grow provincial economy from seven to eight percent by year 2018. She stated that they would double the level of private investment in the province by 2018. Dr Pasha in her speech on the proposed provincial budget disclosed that Federal and Punjab Governments were undertaking Rs 618 billion worth of energy projects in the province. She stated that the Punjab Government's share in these energy projects is Rs 258 billion.

The Finance Minister stated that provincial government in order to benefit from mineral resources of the province is allocating Rs 2.17 billion in the fiscal year 2015-16.

She stated that the government is giving laying emphasis on promotion of education sector and has allocated Rs 310.20 billion for this purpose. Punjab Finance Minister stated that PML-N government has allocated Rs 166.13 billion for health sector. Ayesha Ghaus Pasha said government in order to keep law &order affective is allocating Rs 94 .67 billion for police.

She said agriculture is one of the top priorities of their government. In this regard, Rs 150 billion has been allocated for repair and construction of new roads in rural areas. She added that a 5 billion subsidy has been allocated for farmers to help them purchase 25,000 new tractors. The Finance Minister stated that Rs 50.83 billion is being kept for irrigation projects in the coming fiscal year.

Emphasising on the provision of clean drinking water in the province, minister said the provincial government has allocated Rs 11 billion for this purpose. Punjab Finance Minister stated that their government gives special emphasis on promotion of women in the society and is therefore setting aside Rs 32.16 billion for the purpose. Punjab government has raised salaries and pensions of government servants by 7.5 percent in the proposed budget, the finance minister averred. She said minimum wages of employees of private sector have been proposed to be increased from Rs 12,000 to Rs 13,000 in the coming fiscal year. The assembly was later adjourned by the chair.

Copyright Business Recorder, 2015


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