No New Tax in Punjab Budget, Salaries Increased by 10%

Punjab’s Finance Minister Mujtaba Shuja-ur-Rehman presented the provincial budget for the fiscal year 2024–25 in the Punjab Assembly, with a total volume of Rs 5,335 billion. Chief Minister Maryam Nawaz and cabinet members were present in the house, while opposition lawmakers protested during the session.

According to the finance minister, Punjab will receive Rs 4,060 billion under the NFC Award, while provincial revenues are estimated at Rs 828 billion. Current expenditures are projected at Rs 2,706 billion, capital expenditures at Rs 590 billion, and the development budget has been set at Rs 1,240 billion. The government has allocated Rs 72 billion for subsidies.

For key public sectors, Rs 811 billion have been allocated for education, Rs 630 billion for health, Rs 411 billion for local governments, Rs 129 billion for agriculture, and Rs 300 billion for law and order. The budget includes a 10% increase in government salaries and a 5% increase in pensions, while the minimum monthly wage has been raised to Rs 40,000.

The budget outlines 18 new development sectors. Major allocations include Rs 25 billion for model villages, Rs 5 billion for clean drinking water projects, Rs 14 billion for affordable solar panels, and Rs 2 billion for high-speed rail initiatives.

Speaking to Geo News, Chief Minister Maryam Nawaz expressed satisfaction that no new taxes were imposed this year, repeating last year’s approach. Senior Minister Marriyum Aurangzeb confirmed that there will be no increase in existing tax rates either. She added that a roadmap has been presented to expand Punjab’s tax net and that a detailed report of every rupee spent during the fiscal year will be provided for transparency.

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