LAHORE, Jun 15 (APP):Provincial Finance Minister Makhdoom Hashim Jawan Bakhat presented the
Punjab budget for financial year (FY) 2020-21 with total outlay of Rs 2,240.7 billion,
including Rs 337 billion, for development, in the Punjab Assembly
session here on Monday.
Giving break-up of the budget in his speech during the assembly session, the finance minister
said that under the National Finance Commission (NFC) Award, Punjab will receive
Rs 1,433 billion, while provincial receipts (Own Resource Revenue) are
estimated at Rs 317 billion during financial year 2020-21.
Terming the provincial budget as progressive and pro-business in the given circumstances,
Hashim Jawan Bakhat added that on-going expenditure for the next FY has been
estimated at Rs 1318 billion containing Rs 337.6 billion for salaries, while Rs 337 billion
has been allocated for development expenditures, Rs 128.40 billion for capital expenditure,
and Rs 125 billion as estimated provincial surplus.` The government has also reduced Service Delivery Expenditures by Rs 10 billion and increased the local governments’ budget by Rs 10 billion,
he said and added that it was also proposed to save more than Rs 19 billion
through Pension Reforms.