Punjab to present annual budget on June 13

Punjab to present annual budget on June 13

LAHORE, Jun 11 (APP):The Punjab government will present the budget proposals on Monday, June 13, for fiscal year 2022-23, focusing on pro-poor initiatives and controlling inflation.

A Finance Department spokesperson told the media here Saturday that no new tax would be imposed in the budget while special concessions and incentives given in the past would continue.

The government has planned to launch a special aid package to control inflation, while steps would be taken to control prices of edible items, alongside increasing the purchase power of commoners.

Further, different schemes have been decided to reduce the electricity and gas bills by efficient use of energy. These steps would not only reduce load-shedding but also curtail electricity bills.

To minimise the hardships of the businesses, trade and commoners due to the energy crisis, the government has decided to continue the tax relaxations and exemptions given during the last two years.

Similarly, the facility package of Punjab Chief Minister Hamza Shehbaz for availability of flour at lower prices would also continue.

Overall volume of Punjab’s budget for the next financial year would also be increased. The development budget would be increased with special focus on social sectors including health and education.

A large part of the budget would be spent on achieving development goals. The first priority of the government in the budget for the next financial year would be development of the social sector and revival of the economy.

Several important initiatives would be introduced. In order to achieve the sustainable development goals, the solution to public problems at the district level would be ensured.