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Hopes and challenges - Lahore_Real_Estate - 06-15-2010 09:41 AM
LAHORE – The budget speech of Punjab Finance Minister Tanvir Ashraf Kaira was well balanced, not only accommodating the contentions of the leadership of both the PPP and the PML-N, but to also spotlighting the challenges and the government ambitious programme vis-a-vis education, poverty alleviation, health, law and order. The budget is the first after announcement of the NFC Award and introduction of 18th Amendment, and singular for earmarking a huge volume of Rs 584billion with highest development outlay of 194billion.
Under the NFC Award, the provincial government is going to have additional Rs 98billion that may provide for the financial relief to the masses after one per cent increase in GST, which is going to be an additional burden on the common man by way on lifting prices of every item. Under the award, the GST collection has also come under the domain of the provinces. Budget did not levy any new tax but streamlined the current taxation to generate more revenue.
The minister admitted the fact of hardships confronting Punjab on account of terrorism, power and gas crisis and others the cause of which however has more bearing on the Centre.
The coalition partners, PPP and PML-N, in the Punjab Assembly in unison applauded the budget while the opposition, particularly woman members, had no letup to play it down by loud shouts and desk thumping particularly when the minister mentioned of a huge spending of Rs 135billion on development of Southern Punjab in the current year and further allocation of Rs 52billion for implementing the same in the next budget. The PML-Q-led opposition gave credit of this spending to its leader Ch Pervez Elahi government during Musharraf era. The Punjab budget was carefully framed to avoid any further opportunity being availed by its critics, inclusive of the Punjab governor, to malign its performance.
The minister mentioned about the efforts of all top leaders of both PPP and PML-N in context of the NFC, Charter of Democracy. While commending the sacrifice given by Chief Minister Shahbaz Sharif to make the NFC Award a reality and accommodate other provinces, he mentioned about President Asif Zardari who invited all CMs and political leaders to NFC signing ceremony. At the mention of CoD, he reminded the sagacity of Benazir Bhutto and Nawaz Sharif while he praised cooperation extended by PM Gilani to CM Shahbaz Sharif, whose programme on education and health, agriculture and poverty alleviation found a special mention in the speech. The CM also earned the credit of first time getting profit of Rs 28billion on hydel project from the Centre and the Centre for releasing Rs 13billion without any delay.