Rs2,244b Punjab budget presented, no increase in salaries & pensions

LAHORE (92 News) – Punjab Finance Minister Hashim Jawan Bakhat presented the Rs2,244 billion budget for the next fiscal year 2020-21. Presenting the budget, the minister said that an amount of Rs284.20 billion has been allocated for the health sector. “The expenditures have been estimated at Rs2,115 billion. An amount of Rs 337 billion has been fixed for development expenditures,” he stated. He said that development projects under the public-private partnership have been exempted from sale tax on service for five years. “A sum of Rs357 billion has been allocated for the education department. Rs350.10 billion has been reserved for the School Education Department,” he said. The minister said that Rs31.73 billion has been reserved for the agriculture sector. He also announced a tax relief package amounting to Rs56 billion. “The government is considering reducing services tax on over 20 services from 20 percent five percent. He said that the property tax would be received in two installments this year. “The entertainment duty will be reduced to five percent, while the stamp duty rate will be brought to one percent,” he said. Like the federal government, no increase has been made in the salaries and pensions. The minister said that government’s expenditures have been reduced maximum in the wake of the coronavirus emergency situation. “An amount of Rs1.50 billion has been saved by controlling supplementary grants and departments’ recommendations,” he added. He said that Punjab would be provided with Rs1,433 billion under the NFC Award. “The implementation of the new evaluation table for the property tax has been delayed for a year. People paying the tax by September 30, 2020 will be given 10 percent waiver,” he said. He said that receipt of surcharge will be fully waived off for FY20-21. “20 percent amount will be waived off in case of full payment of the token tax and vehicles’ registration. A special discount will be granted those making the payment under e-pay portal,” he stated. He said that necessary amendments will be made in the Land Revenue Act 1967 soon. Punjab Assembly Speaker Chaudhry Pervaiz Elahi presided over the budget session. Chief Minister Usman Buzdar also attended the session. The opposition members carrying placards staged a protest against the budget.