Rs 5,335b tax-free budget 2025-26 presented in Punjab Assembly

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Mon, 16 Jun 2025, 5:14 PM

LAHORE, Jun 16 (APP): Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman presented the Punjab budget for financial year (FY) 2025-26 with a total outlay of Rs 5,335 billion including Rs 1,240 billion for development programmes, in the Punjab Assembly session here on Monday.

The minister said that the present government has allocated a total of Rs 1,240 billion for development programme that is 23 per cent of the budget 2025-26 and is 47 percent higher than the current FY 2024-25 containing Rs 842 billion on this count. In next FY budget, he said, estimated expenditures under Account-II (Food) have been reduced up to 88 per cent (Rs 53.3 billion) while compared with that of current fiscal year, which is clear proof of the best economic planning of the government, and that is why we have managed to overcome internal debts servicing by 94 percent.

He said that health, education and other sectors under the Social Sector have always been top priority of the PML-N government, that is why a hefty grant of Rs 494 billion (40 per cent of the ADP) have been earmarked for social sector.

Giving break-up of the budget in his speech during the assembly session, the finance minister said that the total revenues collection is estimated at Rs 4890.4 billion, adding that under National Finance Commission (NFC), Punjab will receive Rs 4062.2 billion from the federal divisible pool, while provincial receipts (Own Resource Revenue) are estimated at Rs 828.2 billion for financial year 2025-26. Regarding provincial receipts, he mentioned, Punjab Revenue Authority (PRA) has been given revenue collection target of Rs 340 billion for the next FY, Board of Revenue Rs 135.5 billion, and Excise Department Rs 70 billion.

Terming the provincial budget as tax-free, progressive and pro-business, Mian Mujtaba added that during the financial year 2025-26, a total of Rs 2706.5 billion would be spent on under heads of provincial government employees’ salaries, pension, PFC transfers and service delivery, asserting that these expenditures are reduced by six percent. Similarly, Rs 590.2 billion under the head of Current Capital Expenditures is made part of the budget.

Mian Mujtaba said that Rs 764.2 billion fund of provisional PFC Award (Provincial Finance Commission) have been allocated to empower the local governments, while Rs 150 billion and Rs 20 billion have been allocated as special grants for waste management and municipal corporations respectively. As per welfare state vision of Quaid-i-Azam Muhammad Ali Jinnah, he said, the Punjab government has set aside Rs 70 billion package to provide social protection to the people.

While maintaining the fiscal management, he mentioned, Rs 470 billion EPS under the agreement between federal government and IMF, has been incorporated in the budget, adding that the completion of this provincial surplus is subject to achievement of FBR (Federal Board of Revenue) revenue target.

China Focus: China sees surge in culture-driven tourism

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NNPS Desk

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Mon, 16 Jun 2025, 5:14 PM

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BEIJING, Jun 16 (Xinhua/APP): A large-scale VR immersive experience, “The Recluse Dongpo,” premiered at the Hainan Museum in May, attracting eager fans of the iconic Song Dynasty poet Su Shi to embark on a virtual journey through millennia of Chinese history.

Wearing VR headsets, participants came face-to-face with a digital rendition of Su Shi (also known as Su Dongpo), who vividly recounted his dramatic life — from political exile to literary legend — in an interactive narrative.

This fusion of technology and tradition exemplifies China’s ongoing reinvention of cultural tourism. Alongside its iconic landscapes, the country is witnessing a surge in heritage-driven travel, where films, live performances, and immersive experiences spawn compelling new destinations.

According to a recent China Tourism Academy survey, travelers show growing interest in cultural activities: Nearly 29.2 percent of respondents prioritize cultural experiences in their itineraries, while 78.3 percent express general enthusiasm for such engagements during trips.

Cultural spaces can serve as new settings for tourism experiences and consumption, while tourism spaces can also function as new platforms for cultural display and dissemination, said Li Xinjian, executive dean of the Capital Institute of Culture and Tourism Development at Beijing International Studies University.

In a major government reshuffle in 2018, China merged two government agencies to form a new ministry — the Ministry of Culture and Tourism — “to promote the integrated development of cultural undertakings, cultural industries, and tourism,” according to an official document. The development of culture-driven tourism has since picked up speed.

A 2023 high-level meeting on cultural development underscored the need to promote the “creative transformation and innovative development of China’s fine traditional culture.”

Government at all levels have been tapping into local cultural resources to enhance tourist appeal and boost the economy. During the Dragon Boat Festival holiday from May 31 to June 2, the city of Beijing held more than 1,700 cultural tourism events, including dragon boat carnivals, intangible cultural heritage markets, and Hanfu (traditional Chinese attire) workshops.

The Chinese capital recorded 8.21 million tourist visits during the period, up 5.4 percent year on year. It generated 10.77 billion yuan (about 1.49 billion U.S. dollars) in tourism revenue.

Traditional festivals proved to be high seasons for travelers. This year, during the first Spring Festival after it was inscribed on the UNESCO’s Intangible Cultural Heritage list, travelers flocked to temple fairs, dragon dance performances, and intangible cultural heritage experiences to celebrate an authentic Chinese New Year.

The 2025 Aranya Theater Festival, which will open in the coastal city of Qinhuangdao in north China’s Hebei Province, will stage 29 theatrical productions from 12 countries. During the festival, cultural activities such as art exhibitions and workshops will also be held in the coastal resort of Aranya.

The 2024 edition of the festival received about 164,000 visitors, including foreign travelers.

With the improvement of people’s living standards and increased opportunities for travel, there is a growing demand for cultural experiences during tourism activities, and participation takes diverse forms, said Dai Bin, president of the China Tourism Academy.

Museums, historical cities, ancient towns, cultural districts, live-action shows, concerts, and music festivals have become major attractions in numerous tourist destinations, Dai added.

A government initiative on boosting cultural and tourism consumption launched earlier this year proposed specific measures, such as encouraging public cultural institutions to actively develop cultural experiences, arts education services, and other offerings, enriching the supply of cultural and entertainment products, and allowing local governments to allocate special bond funds to support cultural and tourism projects.

According to Dai, the integrated development of culture and tourism will be a focus for boosting the tourism sector during China’s 15th Five-Year Plan period (2026-2030).

Efforts will be made to promote the integration of cultural industries and tourism supply to create more new cultural experience venues and novel tourism consumption settings for visitors, he added.