LAHORE: The Punjab government has announced an allocation of Rs337 billion for the Annual Development Plan (ADP) for the fiscal year 2020-2021. This significant budget reflects Punjab’s commitment to sustained development and prioritization of ongoing projects.
Punjab Finance Minister Makhdoom Hashim Javan Bakht presented the budget on Monday, emphasizing the government’s resolve to ensure that ongoing development projects continue without compromise. He reiterated that the Punjab administration remains focused on achieving economic growth and improving public welfare through strategic investments.
Breaking down the ADP allocation, the minister stated that Rs97.66 billion has been earmarked for the social sector, underscoring Punjab’s dedication to education, health, and other critical areas of public service. Additionally, Rs77.86 billion has been allocated for infrastructure development, which includes major roadworks and urban planning projects aimed at enhancing connectivity and urban living standards across Punjab.
The production sector will receive Rs17.35 billion, focusing on agriculture, industries, and energy projects that are pivotal to Punjab’s economic growth. Furthermore, Rs45.38 billion has been assigned to the services sector, which includes initiatives to improve governance, administration, and other essential public services. The budget also sets aside Rs51.24 billion for various other sectors crucial to the province’s overall progress.
Recognizing the importance of special initiatives, the Punjab government has allocated Rs47.5 billion for special programs, while Rs25 billion has been dedicated to projects under the Public-Private Partnership (PPP) framework.
Highlighting Punjab’s innovative approach to development, the minister pointed out that limited provincial resources have necessitated greater involvement of the private sector. To facilitate this, Punjab has established a Public-Private Partnership Authority, which will oversee collaborative financing models. As a result, around Rs165 billion worth of mega-projects have been identified to attract private sector investment and boost the province’s development agenda.
Punjab’s proactive stance on incorporating private investment while maintaining a robust development framework demonstrates its commitment to sustainable growth. By leveraging public-private partnerships and prioritizing key sectors, Punjab aims to strengthen its economy and improve the quality of life for its residents in the upcoming fiscal year.