Punjab govt unveils over Rs2300b budget for next year

Punjab govt unveils over Rs2300b budget for next year

Lahore (Staff Report/Agencies): The Punjab government on Friday presented its budget with a total outlay of over 2300 billion rupees for the financial year 2019-20 in the provincial assembly.

Provincial minister for finance, Makhdoom Hasim Jawan Bakht, presented the 2019-20 budget in the PA. Punjab Chief Minister Usman Buzdar and other provincial cabinet members were also present in the house.

Presenting budget, Bakht said that out of total volume, 350 billion rupees are reserved for development while 1717 billion rupees for non-development purpose.

He said that an estimate of collections worth 1990 billion rupees has been ascertained for General Revenue Receipts.

Punjab is expected to receive an amount of 1601 billion 460 million rupees from Federal Government as its share from National Finance Commission Award.

A 10 percent increase has been proposed for Grade 16 employees, while a five percent increase has been recommended for Grade 17-20. No increase has been proposed for Grade 20 and 21 officers.

However, the provincial government decided to impose 10pc cut on the salaries of provincial ministers.

Ahead of the budget session at the Punjab Assembly, the provincial cabinet met in the morning and approved the budget for 2019-20 and finance bill 2019.