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‘Punjab budget 2010-11 will be tax-free’ - Lahore_Real_Estate - 04-10-2010 10:38 AM
By Zaheer Shahzad
LAHORE: Finance Minister Punjab, Tanvir Ashraf Kaira said on Friday, the next provincial budget would absolutely be tax free and price hike stricken government employees would be given handsome raises in salaries. “The new budget will be according to wishes of the people as it will focus on peoples’ welfare schemes like continuation of Sasti Roti scheme, Green Tractor scheme, Poverty alleviation Plan,” he added.
Talking to Daily Times at his Punjab Assembly chamber, the minister said the coalition government is well aware of the problems faced by the people from all walks of life. The rise in prices of essential commodities has made life tougher for common people and special funds are being allocated to provide prompt relief to common man.
Replying to a question, he said, the government would obtain Rs 143 billion more compared with the last year from central government under federal tax income pool. Besides, he said, the Punjab government would get 40 percent extra development funds. He said, the government has proposed to increase the size of the Annual Development Plan for the next year to Rs 197 billion against Rs 172 billion for the current fiscal year. “In this regard all the government departments have been asked to prepare schemes according to the plan,” he said.
According to Finance Ministry sources, the allocation for social sectors would likely be Rs 71,700 million, which is 46.9 percent of the total size of the proposed ADP. Infrastructure development is expected to get Rs 58,000 million, production sectors Rs 11.975 million while services sector is projected to get Rs 4,220 million, special programme is likely to receive Rs 44,000 million. The projects, which are at advance stage of completion and have consumed 70 percent of the cost, would be fully funded during 2010-11. Incomplete schemes initiated during 2009-10 under MPAs package are likely to be introduced in ADP for their completion.
He said, the projects of provincial importance and mega projects on cost sharing basis between federal and provincial governments would be taken up with the federal government. “The central point of the next year’s development strategy will be equitable growth embracing all classes, sectors and regions,” he said.
In the next budget, the Minister said, interests of farmers would be properly watched and special steps would be taken to increase farmers’ income through increased crop productivity, better support price and diversified agricultural practices.