Pun­jab bud­get

Pakistan Observer - - IN­TER­NA­TIONAL -

creas­ing re­sources and grad­u­ally re­duc­ing tax rate, she viewed.

Rev­o­lu­tion­ary mea­sures will also be an­nounced for ad­dress­ing the prob­lems faced by small farm­ers and de­vel­op­ment of agri sec­tor and spe­cial at­ten­tion is be­ing paid to give re­lax­ation in busi­nesses and in­crease in ex­ports. She said the gov­ern­ment was im­ple­ment­ing the pol­icy of bal­anced de­vel­op­ment.

Ac­cord­ing to Fi­nance Depart­ment sources, the pro­vin­cial rev­enue dur­ing next fis­cal year is ex­pected to be Rs 324 bil­lion and Rs 784.5 bil­lion is to be re­ceived from fed­eral gov­ern­ment un­der Na­tional Fi­nance Com­mis­sion (NFC) award. More than Rs 363 bil­lion will be al­lo­cated for de­vel­op­ment, Rs 130 bil­lion for ed­u­ca­tion, Rs 870 bil­lion for non­de­vel­op­ment ex­pen­di­ture, Rs 18 bil­lion for the power sec­tor, Rs 125 for the so­cial sec­tor and Rs 44 bil­lion for ser­vices sec­tor, Rs 41 bil­lion for ir­ri­ga­tion, Rs 23 bil­lion each for spe­cial pack­age of the Chief Min­is­ter, and fil­tra­tion plant for drink­ing wa­ter and Rs 30 bil­lion for projects es­tab­lished with the for­eign in­vest­ment.

Un­der the vi­sion of Pun­jab Chief Min­is­ter She­hbaz Sharif, the Eco­nomic Growth Strat­egy has been drafted and its main tar­gets are to in­crease the eco­nomic growth of the prov­ince from 7 per cent to 8 per cent by 2018, cre­ate 10,000 jobs for the youth an­nu­ally, dou­ble the pri­vate in­vest­ment in the prov­ince by 2018, elim­i­nate ter­ror­ism to en­sure pro­tec­tion of life and prop­erty of the cit­i­zens and bring­ing the ex­ports per­cent­age to 15 per cent.

More than 40 per­cent of the bud­get will be re­served for ed­u­ca­tion and health sec­tors in the bud­get, while Rs 100 bil­lion will be ear­marked for pro­vid­ing sub­sidy to the farm­ers dur­ing the next two years. The bud­get 2016-17 will fo­cus on­go­ing

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