LAHORE: PML-N’s Maryam Nawaz-led Punjab government on Monday tabled its first budget for a precise period of three months (April to June) for the fiscal year 2023-24.

It also ratified the nine-month budget (July 2023 to March 2024) of the total annual budget for FY24, approved and utilised by the outgoing caretaker provincial government led by Mohsin Naqvi.

The three-month budget consists of a Rs280 billion annual development programme (ADP), reflecting Chief Minister Maryam’s priorities in health, social, and IT sectors. The ADP includes Rs55bn allocated for the launch of various initiatives announced by the CM, Rs16bn for other development projects, Rs158bn for ongoing development schemes, and Rs51bn for foreign-funded schemes.

“In a short time of 21 days, Chief Minister Maryam Nawaz has given her vision for a prosperous Punjab, allocating Rs10bn for the country’s biggest Nawaz Sharif IT City, Rs4bn for the IT infrastructure investment programme, Rs1.5bn for Punjab IT graduation internship programme, Rs1bn for global IT certification programme, and setting up the CM helpline,” explained Finance Minister Mian Mujtaba Shujaur Rehman, while delivering the budget speech at the floor of the Punjab Assembly’s session.

Total outlay amounts to over Rs4.480tr; Rs280bn allocated for ADP

Besides this, according to him, the government is all set to establish a provincial database authority for Rs500 million for better planning and development, Rs1bn for free Wi-Fi service in Punjab and Rs250m for the launch of Punjab Dastak Programme. Furthermore, Rs40bn has been allocated for a revamp of the entire rural health centres and basic health units, Rs4bn for the start of Punjab Health Sector Development Programme, Rs700m for the launch of ambulance service at motorways, and Rs30bn for a state-of-the-art cancer hospital in Lahore, namely the Nawaz Sharif Institute of Cancer Treatment & Research.

The three-month budget aims at the construction/establishment of a hospital in Sargodha, namely the Nawaz Sharif Institute of Cardiology, along with the provision of laptops to students for Rs2bn under the Punjab education programme and Rs1bn for the CM’s internship programme.

The budget proposals seem to focus on the agriculture sector, with plans to launch the Punjab Agriculture Transformation Programme costing Rs2bn, construct model agricultural malls for Rs2.5bn, and launch aquaculture shrimp farming for Rs1bn.

The government, while prioritising the transport, roads and cleanliness sectors, plans to initially spend Rs10bn on road infrastructure improvement, Rs5bn on providing housing for the poor and lower-middle class under the “Apni Chat-Apna Chat” programme, Rs2bn on introducing electric buses in the public transport sector, Rs1bn on providing electric bikes to the people, Rs2bn on solid waste management, Rs5bn on the repair/maintenance of streets and gutters under the “Suthra Punjab” programme, and Rs1bn on the CM Plant for Pakistan programme.

It may be mentioned that the total outlay of the Punjab budget for the ongoing FY24 amounts to over Rs4.480 trillion, including an envisaged income of Rs3.331tr. This Rs4.480tr includes Rs2.706tr received by the Punjab government under the deferred divisible pool. The total budget for FY24 has a huge ADP of Rs655bn, with a 36 per cent share allocated to the social sector, 30pc to infrastructure, 8pc to the production sector, 4pc to the services sector, and 13pc allocated for other development programmes and special initiatives.

While the provincial revenue has been estimated at Rs625.30bn, representing a 25pc increase over last year, it is expected that Rs240bn will be collected from the Punjab Revenue Authority, reflecting a 26pc increase, Rs99.20bn from the Board of Revenue with a 4pc increase, and Rs45.50bn from the Excise Department with a 5pc increase. The non-tax revenue has been estimated at Rs231.80bn, showing a 42pc increase. In the current financial year, Rs513.73bn has been allocated for salaries, Rs392.10bn for pensions, and Rs627.70bn for local governments.

Out of the overall development budget allocated for the education sector, Rs44.41bn has been earmarked for school education, Rs9.36bn for higher education, Rs2.99bn for the literacy and non-formal education department, and Rs920m for special education.

Published in Dawn, March 19th, 2024