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06-03-2017, 01:45 PM
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Rs1.970tr record Punjab budget unveiled
 LAHORE: Amidst the worst rumpus by the opposition parties, Minister for Finance Dr Ayesha Ghaus Pasha presented Rs1.970 trillion Punjab budget for 2017-18 with development outlay of Rs635 billion.Pay and pension of the Punjab employees have been increased by 10 percent, in line with the increase made by the federal government. The salaries would be increased after including the ad hoc allowance, given in 2010 in the basic salary. To facilitate small and medium enterprises, the provincial government is starting credit guarantee scheme through the Punjab Small Industries Corporation allocating Rs3 billion for this purpose. For the Quaid-e-Azam Apparel Park at Sheikhupura, an amount of Rs4 billion has been earmarked. For the Punjab government’s interest-free loans for unemployed youth, Rs2 billion has been allocated in the upcoming budget. To ensure supply of clean drinking water to its population, the Punjab government has allocated Rs25 billion under its Saaf Pani Program. A**ther Rs30 billion would be spent on installing hand-pumps spent on installing hand-pumps in the province. An amount of Rs15 billion under the Kissan Package has also been an**unced to carry out programmes that increase general agriculture productivity. After accounting for the current expenditure of Rs1.335 trillion, the Punjab government is left with revenue surplus of Rs517.899 billion only that could be spent on development. The provincial government, however, expects a balance amount of Rs117.2 billion as foreign assistance to finance its development budget. In the year 2016-17, Punjab included foreign assistance of Rs114.952 billion to finance its development programme but at the end of year it received assistance of Rs54.553 billion only – with a shortfall of Rs60.03 billion. Still Punjab succeeded in spending Rs532 billion on development against the original target of Rs550 billion. It generated higher surplus for development of Rs478 billion against original estimate of Rs435.05 billion. Punjab would receive Rs1154.18 billion from the federal divisible pool while the province would generate revenues worth Rs348.30 billion; including tax revenue of Rs248.99 billion and **n-tax revenue of Rs117 billion. Provinces are reaping the fruit of high revenue generation by the federal government as they get 60 per cent of tax revenue generated. Federal transfers provide most of the funds for their budget. The provincial government has allocated 32 per cent of the development budget for social sector programs like water supply, education and health. The current expenditure on education got the lion’s share of Rs345 billion. District education authorities have been strengthened this year with allocation of Rs230 billion, which is Rs36.6 billion higher than last year. To upgrade school infrastructure, Rs6.4 billion has been earmarked. The Punjab government has also allocated funds to provide solar power to 10,000 schools in the province. In order to provided scholarship to students on merit, a sum of Rs5 billion has been budgeted for the next fiscal year. Higher Education would get Rs44 billion. The Punjab government would provide laptops to 115,000 students for which Rs7 billion have been earmarked. The posts of primary and secondary teachers have been upgraded which would cost Rs9 billion. The government would be spending Rs263.22 billion on heath next year which is 15.4 per cent of the 2017-18 budget. Punjab government would provide free medicines worth Rs16 billion to its hospitals in new budget which Rs4 billion higher than current budget. A separate amount of Rs3.50 billion has been allocated for free medicines to hepatitis patients. In 2017-18, the government plans to create 6,000 new vacancies for doctors and paramedical staff in tertiary hospitals. The government also plans to add 2,000 beds next year in Punjab hospitals. The total allocation for agriculture would be Rs140.5 billion to promote irrigation, livestock, forests, fisheries and food. Under the rural road programme, the Punjab government plans to build 1400 km of roads for which Rs17 billion have been allocated. For security and justice, Rs198 billion has been allocated. Safe City Project would be spread to six more districts for which Rs45 billion has been budgeted. For Punjab Highways and bridges, the Punjab government has earmarked Rs90.64 billion. Punjab government has revived green cab scheme for the youth under which 50,000 cabs would be given on credit to unemployed youth which will cost Rs35 billion. The work on Metro Bus in Faisalabad would be started this year. The Chinese Exim Bank has agreed to provide Rs94 billion for the Orange Train Project this year. To provide respectable employment to educated youth, the Punjab government is establishing 40 e-rozgar centres, where 10,000 students would get assistance in seeking jobs. For the welfare of mi**rities, the government has allocated Rs1.16 billion in next budget. The GST on construction has been reduced from 16 per cent to 5 per cent. The government has also waived registration fee on registration of new firms. The Punjab government would issue Rs25 billion investment bond, which would be listed in the market. Institutions and general public could buy and trade these bonds. The amount thus generated would be spent on development projects. Asim Hussain adds: Irrespective of the budgetary policies, Punjab Finance Minister Dr Ayesha Ghaus Pasha faced one of the toughest days of her life while presenting the last budget of the PML-N government in Punjab Assembly on Friday, as the belligerent opposition, led by Pakistan Tehreek-i-Insaf (PTI) created one of the worst rumpus in the house. The opposition members made an in**vative move to frustrate the treasury members on Friday. They brought in whistles with them which they kept blowing all through the two hours proceedings, besides making sloganeering against the PML-N leadership, booing and hooting, that left **thing audible in the house. Even Speaker Rana Iqbal Khan had to retreat in the face of loud **ise and hullabaloo as he quit shouting “Order in the House, Order in the House,” after some time, probably seeing that his own voice was far lower than the prevailing **ise of the whistles. As soon as the speaker invited the finance minister to present the budget, about 10 opposition members, led by Arif Abbasi, Aslam Iqbal and Saadia Suahil Rana gathered in front of the speaker’s dice, blowing whistles and hooting. They kept tearing up budget papers and throwing shreds on the treasury benches from time to time. They were aided by other PTI member Asif Mehmood, Ali Salman, and some female members, while the leader of the opposition Mian Mehmoodur Rasheed kept supervising them from standing a few feet behind. The leader of the house, Chief Minister Shahbaz Sharif, also appeared very upset and uneasy in the face of such an unusual **ise. But he kept sitting with a stern expression on his face till the end. Moayyed Jafri adds: Chairing a cabinet meeting on Friday, Punjab Chief Minister Shahbaz Sharif said that special measures were being taken for development and prosperity of southern Punjab. He said record funds would be available for prosperity of the people living in southern districts of the province. The meeting accorded approval to budget proposals for financial year 2017-18. It also approved revised estimates for the financial bill 2017 and financial year 2016-17. The cabinet appreciated ministers of different departments, chief secretary, chairman P&D, secretary finance and ******rs of the departments concerned for preparation of the budget proposals. The meeting also commended the performance of Finance Minister Dr Ayesha Ghaus Pasha and her team. The chief minister congratulated the Punjab cabinet and the nation over production of 1320-MW electricity from Sahiwal Coal Power Project Shehbaz Sharif said that historic budget had been given by the provincial government for the next financial year. This public-friendly, balanced and historic development budget will usher in new era of development and prosperity in the province, the CM said. أكثر... 
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