LAHORE : The PT-led Punjab government is going to present its first budget on Friday (tomorrow) with an estimated outlay of over Rs 2100 billion, 18 per cent higher than the previous budget estimates.

According to sources in the finance department, the government is anticipating to receive around Rs 1500 billion from the federal divisible pool as its provincial share for the new fiscal year (2019-20). It has set a revenue collection target of Rs 368 billion, out of which Rs 283 will be collected through taxes while Rs 85 billion is likely to come from non-tax receipts.

Likewise, capital income from assets is likely to generate Rs 33 billion while foreign-funded projects are expected to fetch Rs 27 billion. Punjab Minister for Law and Parliamentary Affairs, Mohammad Basharat Raja Wednesday said that Punjab Budget would be public-friendly. He also lauded the federal government on presenting a good budget in hard economical circumstances. 

 In the past, he said, billions of rupees were spent from the national exchequer on the personal belongings of rulers such as construction of drains for sugar mills and roads for personal residences.