LAHORE: The Punjab government will present its annual budget for the fiscal year 2025–26 on June 16, following a short delay from the initially announced date of June 13.
Finance Minister Mujtaba Shujaur Rehman confirmed the change during the Punjab Revenue Authority performance review meeting on Wednesday. He also reiterated that the expansion of the tax net will be ensured to increase revenue in the next fiscal year.
Meanwhile, according to the sources, the upcoming budget will be tax-free, and no new taxes will be introduced. Estimated at over Rs1,200 billion, the new fiscal plan is expected to feature a record-breaking development outlay emphasising health, education, infrastructure, and tourism.
The new budget will include over 850 development schemes and the key projects include the expansion of Nawaz Sharif Medical City in Lahore where new hospitals will be constructed under a public-private partnership model. The government also plans to roll out extensive sanitation and clean drinking water initiatives throughout Punjab. Infrastructure development remains a central priority.
Moreover, the provincial transport network will be expanded to additional cities, while road and urban infrastructure projects are planned for 66 cities across the province. These initiatives reflect the government’s strategy to improve public services and promote inclusive growth without imposing new tax burdens on citizens, said sources.
The sources also confirmed that proposals for new taxes, submitted by the Board of Revenue and the Punjab Revenue Authority, were rejected by Punjab Chief Minister Maryam Nawaz Sharif. The government is instead reviewing the current tax structure to identify adjustments in existing rates where necessary.
The Punjab Assembly is scheduled to convene on June 16 for the formal presentation of the budget.
Copyright Business Recorder, 2025
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