LAHORE, June 20, 2025 – The Punjab government has unveiled far-reaching changes to its sales tax regime under the Punjab Finance Bill 2025, marking a major structural reform aimed at expanding the tax base and digitizing the provincial economy.
(more…)Tag: punjab budget
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Punjab announces salary, pension increases in 2025-26 Budget
Lahore, June 16, 2025 – The Punjab government has announced a 10% increase in salary and a 5% increase in pension for provincial government employees as part of its budget for the fiscal year 2025-26.
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Punjab unveils Rs5.34 trillion budget for FY2025-26
Lahore, June 16, 2025 – The Government of Punjab presented a record-breaking budget of Rs5.34 trillion for the fiscal year 2025-26, marking a significant leap in development spending and fiscal targets.
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Punjab Announces 25% Raise in Salaries in 2024-25 Budget
LAHORE, June 13, 2024 – The government of Punjab has announced a 25 percent increase in salaries for provincial government employees, effective from July 1, 2024.
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Punjab Allocates Rs 842 Billion for Development Budget 2024-25
LAHORE, June 13, 2024 – In a significant move to bolster the province’s development, Punjab has allocated Rs842 billion for its Annual Development Plan in the budget for the financial year 2024-25.
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Punjab Presents Rs 5.4 Trillion Tax-Free 2024-25 Budget
LAHORE, June 13, 2024 – Punjab Finance Minister Mujtaba Shuja-ur-Rehman presented the provincial budget for the financial year 2024-25 in the assembly session on Thursday.
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Punjab announces 15% increase in salary
LAHORE: Punjab government has announced an increase of 15 per cent for employees of provincial government.
The Punjab government on Wednesday announced its budget for fiscal year 2022/2023. The finance minister announced an increase of 15 per cent for employees of provincial government. Besides, the provincial government also increased 5 per cent for pension.
The finance minister said that provincial government was well aware of high inflation and difficulties of masses.
About the employees of provincial government, the finance minister said the employees were committed to their jobs.
The minister also announced a special allowance of 15 per cent to the salary of employees of grade 1 to grade 19.
Further, the government also increased the minimum wage from Rs20,000 to Rs25,000 per month.
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Punjab presents Rs3.226 trillion budget 2022/2023
LAHORE: Punjab government on Wednesday presented its budget 2022/2023 with an outlay of Rs3.226 trillion. Presenting the budget, Finance Minister, Sardar Owais Ahmad Khan Leghari said the total volume of the budget is 22 percent more than current fiscal year, out of which Rs1.712 billion have been allocated for Current Expenditures.
He said that total estimated Revenue for next fiscal year is 2521.29 billion rupees, while the province will get over 2020 billion rupees from the Federal Divisible Pool.
The Minister said Rs435.87 billion have been allocated for salaries, Rs312 billion for pensions while Rs528 billion for Local Governments.
The Finance Minister said no new tax has been levied in next fiscal year on account of Sales Tax on Services. He said Stamp Duty ratio has been proposed to enhance from current one percent to 2 percent to raise provincial revenue.
Owais Leghari said 35 percent of the Annual Development Program amounting to 240 billion rupees has been allocated for South Punjab, which will be spent on development projects.
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Punjab presents Rs2,300 billion surplus budget for 2019/2020
LAHORE: The Punjab government on Friday presented total outlay Rs2,300 billion budget for fiscal year 2019/2020 with Rs233 billion surplus for the fiscal year.
Punjab Finance Minister Makhdoom Hashim Jawan Bakht on floor of the house presented the budget said that total volume of the budget for fiscal year 2019/2020 was Rs2,300 billion up from Rs2,026 billion for the outgoing fiscal year.
He said that allocation for Annual Development Plan (ADP) is Rs350 billion, which is 47 percent higher from current year ADP of Rs238 billion.
The ADP included Rs60.5 billion foreign funded projects and Rs42 billion innovative financing.
For the current expenditure the province has allocated Rs1,299 billion up for 2019/2020 from Rs1,264 billion, which is 2.7 percent higher from the current fiscal year.
The finance minister said that the federal government had set a tax target of Rs5,555 billion for Federal Board of Revenue (FBR) for fiscal year 2019/2020. He said that the province would also contributed Rs1,601 billion in the next fiscal year.
The revenue from the province’s own resources will be Rs388.4 billion, 3.31 percent increase from the current fiscal year.
He said that the province had decided to increase salary and pension at par with the federal government.
While non-salary budget has been reduced to Rs279 billion in fiscal year 2019/2020 as compared with current year’s Rs305 billion.
Makhdoom Hashim Jawan Bakht said that present budget has been aimed at austerity and expenditures have been reprioritized. He said that non-salary current expenditures have been reduced by 11 percent. It is decided to cut salary of provincial cabinet by 10 percent.
All operating expenditures have been reduced by 10 percent except procurement of medicines.
Physical assets procurement including vehicles, machinery etc. by all departments has been reduced by 20 percent.