Punjab presents Rs700bn budget for 2011-12

LAHORE: The Punjab Budget for 2011-12 was presented in the Provincial Assembly, here on Friday.

The total outlay of the budget amounts to Rs700 billion for the fiscal year 2011-2012.

According to the provincial budget, Punjab

will receive Rs576 billion from the federal divisible pool. Rs10 billion have been allocated for small loans and 100,000 residents of the province will receive interest free loans of Rs20,000.

The assembly was informed that Rs192 billion were allocated for last year's development programme, out of which only Rs70 billion were utilized while Rs210 billion have been allocated for next year's development programme.

Southern Punjab will receive a 31 percent grant from the annual budget while Rs4 billion have been allocated for the Ramazan package.

Over Rs5 billion have been allocated for the doctors’ salary package and Rs50 billion have been allocated for counter-terrorism.

The budget also includes a 15 percent pay raise of Punjab government officials and a 25 percent increase in the salaries of grade 1-16 provincial employees.

There will be a 12 percent increase in non-development expenditure and a 14 percent increase in development expenditure.

Property taxes in the province will be raised and a tax on luxury cars is being proposed and GST on services will be collected through the FBR.

Earlier, a scuffle broke out in the assembly prior to the budget speech.

Copyright PPI (Pakistan Press International), 2011