LAHORE: The Punjab government is all set to present its budget on Friday (nowadays) for the monetary yr 2019-20, having an envisioned total outlay of Rs2.Sixteen trillion, which includes development funding of some thing between Rs425bn and Rs450bn.

The Punjab government’s predicted total price range outlay is 6.

.65pc higher than the original estimates for the ongoing 2018-19 financial year.

it's far learnt that the Punjab authorities is placing a prime thrust on infrastructure and social sectors that may take a big percentage of the pie, at the least 55pc of the entire improvement finances.

beforehand of the budget session on the Punjab meeting, the Punjab cabinet will meet inside the morning and approve the finances for 2019-20 and finance invoice 2019.

The provincial authorities, in step with the federal government’s move, has decided to impose 10pc reduce at the salaries of provincial ministers. The problem has been meditated on the cabinet time table for very last approval.

since the PTI authorities got here in with a narrative to uplift the so-far not noted south Punjab, the provincial authorities decided to do ring-fencing of improvement funds of 3 divisions of south Punjab – Multan, Bahawalpur and Dera Ghazi Khan.

The cabinet may also discuss the revised estimates for 2018-19 and finances estimates for 2019-20 with regard to development price range, modern-day budget and receipts.

The cabinet is also scheduled to approve the supplementary grants for 2018-19 before going to the Punjab meeting’s finances consultation.

for the reason that PTI authorities is all out to expand its tax base and gather the maximum revenue, it's far scheduled to approve regulations/notification underneath sections five and 76 of the Punjab sales Tax Act 2012. Following the approval, the Punjab sales Tax Act 2012 rules/notification could be laid before the Punjab meeting.

The Punjab government is waiting for its share of Rs1.5 trillion from the federal divisible pool as towards modern financial year’s unique percentage of Rs1.27tr.

sources say the Punjab government is looking ahead to Rs368.7bn provincial tax and non-tax receipts for the next economic year.

according to the spoil-up, Punjab expects Rs283bn from taxes and Rs85bn from non-tax assets.

it's far learnt that the Punjab government is awaiting Rs27bn from overseas undertaking assistance, Rs33.5bn contemporary capital receipts and Rs237.7bn loans for food (wheat) procurement.

posted in , June 14th, 2019