Lahore June 14 2021: Punjab has announced its budget for the fiscal year 2022 with total outlay of PKR2,653 billion with provincial budgeted surplus of PKR125 billion.
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Petrol prices likely to go above PKR130 per liter
The budget contains tax relief measures of more than PKR50 billion for mitigation of negative impact of COVID 19.
Out of the total outlay, an amount of PKR560 billion is to be spent on development projects which is approximately 66.2 percent higher in comparison to last year budget amount of PKR337 billion. Current expenditure are set at PKR1,427 billion reflecting an increase of 8.3 percent compared to previous year.
Punjab government has raised the salary and pension of its employees by 10 percent for the fiscal year 2022 along with special allowance of 15 percent for financially distressed employees. Out of the total outlay of PKR2,653 billion, an amount of PKR380 billion and PKR275 billion is to be spent on salaries and pensions.
Punjab government has set aside PKR360 billion for district development projects while PKR80 billion has been allocated for Universal Health Insurance for entire Population of Punjab. Punjab provincial budget contains PKR105 billion for rehabilitation and development of Roads.
Southern Punjab Development Portfolio set at PKR189 billion.
An amount of PKR86 billion is budgeted at Punjab Rural Sustainable Water Supply and Sanitation Projects.
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