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Punjab, KP to Present Provincial Budgets for Upcoming Fiscal Today

Lahore’s proposed budget has total outlay of Rs. 3.226 trillion, while Peshawar’s is a little over Rs. 1 trillion

by Newsweek Pakistan

File photo of the Punjab Assembly

The provincial governments of Punjab and Khyber-Pakhtunkhwa will present their budgets for the upcoming fiscal year 2022-23 today (Monday), with sources saying the total outlay of Punjab will be Rs. 3.226 trillion, while KP’s will be a little over Rs. 1 trillion.

According to local media, Punjab’s budget would have a development allocation of Rs. 683.5 billion, while KP’s would be Rs. 350 billion. Sources further said that both provincial governments had proposed 15 percent pay raises for government-sector employees. KP Finance Minister Taimur Jhagra would present the budget for his province, while Sardar Awais Laghari would reportedly present the budget in Punjab, though he has yet to formally be appointed to the finance ministry.

Punjab measures

Pakistan’s most populous province has earmarked more than Rs. 350 billion for subsidies, including Rs. 200 billion for flour and Rs. 134 billion for other services. There are reports that the government would increase the subsidy on public transport to encourage the public to utilize it more reduce a reliance on private transport.

Contrary to claims by the ousted Pakistan Tehreek-e-Insaf (PTI), the government is continuing the health card initiative, allocating Rs. 127.34 billion for it. Additionally, the health sector is being allocated Rs. 173 billion, including Rs. 152 billion for specialized healthcare and medical education and Rs. 21 billion for primary and secondary healthcare. Similarly, the overall allocation for education is Rs. 56.2 billion, consisting of Rs. 39 billion for primary schooling; Rs. 13 billion for higher education; Rs. 1.2 billion for special education; and Rs. 3 billion for literacy and non-formal education.

The budget has also allocated Rs. 2.4 billion for population welfare; Rs. 1.6 billion for social welfare; and Rs. 900 million for women’s development.

KP plans

The provincial government has allocated over Rs. 900 billion for current expenditures and Rs. 400 billion for the development sector. The budget proposes Rs. 222 billion for the merged districts, while setting a tax revenue target of Rs. 80 billion. It has also cited receivables of Rs. 90 billion in foreign aid.

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