Hassan Naqvi
LAHORE: In the second meeting of the Punjab cabinet led by Chief Minister Maryam Nawaz pivotal and crucial decisions were taken that will shape the province’s fiscal landscape for the upcoming year.
Foremost among them was the unanimous approval of the provincial budget for the fiscal year 2023-24, amounting to a staggering Rs 4480.7 billion.
Of this budget, a substantial allocation of Rs 655 billion has been earmarked for the development budget, reflecting the government’s commitment to infrastructure enhancement and progress. Additionally, a noteworthy sum of Rs 20 billion has been dedicated to social security measures, underlining the administration’s focus on welfare initiatives.
A detailed breakdown of the budget allocations sheds light on the government’s priorities. Notable provisions include Rs473.6 billion for health initiatives, Rs 596 billion for education, Rs 382 billion for construction projects, and Rs127.7 billion for local government endeavors. These allocations signal a concerted effort towards bolstering critical sectors and fostering sustainable development across Punjab.
Furthermore, specific initiatives have been accorded targeted funding, with Rs30 billion allocated for a comprehensive Ramazan package, Rs11 billion for free book supplies, and Rs12.5 billion designated for the Central Business District and PKLI endowment fund. Moreover, the hygiene expansion program has received a substantial boost with an allocation of Rs 11.4 billion, while Rs 264 billion have been set aside for the payment of wheat debt, demonstrating the government’s steadfast support for the agricultural sector.
In addition to the budget approval, the Punjab Cabinet greenlit the supplementary budget for 2023-24 and endorsed amendments to the Punjab Sales Tax Service Act. Moreover, budgets covering specific periods, including July-October, November-February, and March 2024, were also given the nod.
Chief Minister Maryam Nawaz’s leadership was lauded during the session, particularly for her presentation of what was hailed as the most comprehensive Ramazan package to date. Praising her efforts in price control measures, she noted a visible decline in commodity prices, attributing it to the government’s proactive measures.
Expressing satisfaction with the implementation of the Ramazan package, Maryam Nawaz commended her team for their dedication and announced the successful distribution of the package to over 3.5 million families across the province, with remaining deliveries slated for completion within a week. Looking ahead, she pledged to enhance next year’s package based on authentic data, reaffirming her commitment to the welfare of Punjab’s populace.
The decisions taken during the cabinet meeting underscored the government’s unwavering dedication to fiscal prudence, social welfare, and economic advancement in Punjab, setting a robust foundation for the province’s growth trajectory in the coming year.
