Punjab cabinet approves 2023-24 budget worth Rs4.48 trillion
LAHORE, (NNI): The second meeting of the Punjab Cabinet, presided over by Chief Minister Maryam Nawaz, saw significant decisions being made, including the approval of the provincial budget for the fiscal year 2023-24 amounting to Rs4480.7 billion.
An allocation of Rs655 billion has been earmarked for the development budget. Additionally, an estimated budget of Rs20 billion has been set aside for social security measures.
The budget breakdown revealed allocations of Rs473.6 billion for health, Rs596 billion for education, Rs382 billion for construction, and Rs127.7 billion for local government projects.
Moreover, specific allocations have been made for various initiatives, including a Rs30 billion Ramazan package, Rs11 billion for free book supplies, and Rs12.5 billion for the Central Business District and PKLI endowment fund.
Furthermore, the expansion program of hygiene has received Rs11.4 billion, while Rs264 billion have been allocated for the payment of wheat debt. Also, Rs25.6 billion have been designated for agriculture subsidies, reflecting the government's support for the farming community.
In addition to the budget approval, the provincial cabinet also gave the green light to the supplementary budget for 2023-24 and amendments to the Punjab Sales Tax Service Act. Moreover, budgets for specific periods were also approved, covering July-October, November-February, and March 2024.
Chief Minister Maryam Nawaz was praised for presenting what was hailed as the best-ever Ramazan package by the provincial cabinet. She expressed satisfaction with the government's efforts in improving price control, noting that commodity prices were decreasing due to these measures.
Maryam Nawaz commended the entire team for their dedicated efforts in implementing the Ramazan package and ensuring effective price control measures. She assured that next year's package would be even better, based on authentic data. Maryam also announced the successful completion of delivering the Ramazan package to over 3.5 million families across the province, with the remaining deliveries expected to be completed within a week.