LAHORE-Punjab budget for the fiscal year 2014-15 would be presented on June 11 next.
Punjab Minister for Finance, Excise and Taxation Mian Mujtaba Shujaur Rahman would present the budget at the special session of the Punjab Assembly. The volume of upcoming budget is likely to exceed Rs 1000 billion as against Rs 898 billion of the current year. The budget, stated to be pro-poor, would envisage broadening of the tax net and bringing those areas under tax collection which previously were outside the net. Sources said that many proposals are under consideration to increase revenue through tax collection also from agri produce and sale-purchase of the property. Sources further said incentives and subsidies to farmers on fertilizers, pesticides and machinery are also under consideration for the next budget.
They said funds from the social sector development are going to be increased and new areas of public development are being introduced in education, health, traveling, environment etc. sectors while more funds would be allocated for energy and water schemes and infrastructure.
The next budget is also going to give focus on the industrial sector wherein manufacturing, textile, livestock and food processing have been given special emphasis. The next Punjab budget is likely to carry special programme for employment and self-business schemes for the youth in addition to encouraging and providing special incentives to the students of higher education under the Higher Education Commission Punjab and for those undertaking research oriented education.
Funds are also being raised for law and order as well for bringing improvement in judicial system.
While talking Finance Minister Mujtaba Shujaur Rahman said various public welfare proposals for incorporation in the budget, were under study at the moment and they would be finalised after approval of the Chief Minister.
He said government wants to minimise financial burden on the poor in the next budget and to provide them even better education and health facilities. He said that the Punjab government would also increase salaries and pension of the serving and retired civil servants corresponding with the decision in regard by the Federal Government and if minimum salaries would be jacked up by the PML-N government in the Centre, the province will also follow the suit. He said after 18th amendment many departments have been devolved to the provincial government and in the next budget funds would be earmarked to make those departments fully operational and bring them to maximum use of the public. He said proposals are under consideration for increasing tax collection for which the tax base would be expanded instead of increasing taxes.