Punjab to pay Rs.
Lahore – Provincial Finance Minister Makhdoom Hashim Jawan Bakht said on Monday that during the next financial year (2020-2021) a total of Rs 337 billion will be spent on developmental plans / projects of various sectors.
During his budget speech at the Assembly session here, he said that despite the huge economic challenges and lack of resources, the government did not participate in the development program and kept 337 billion rupees as development expenditure. He mentioned that the ongoing development projects would be completed on priority.
Out of the total development budget of Rs 337 billion, Hashim Jawan said that 97.66 billion rupees will be spent on social sector, Rs 77.86 billion on infrastructure development, Rs 17.35 billion on production sector, Rs 45.38 billion on service sector, 51.24 billion on miscellaneous. It will cost Rs. 47.5 billion rupees on sectors, special program and 25 billion rupees on public private partnership (PPP).
Keeping in mind the meager resources in the presence of coronovirus challenges, the government has decided to involve the private sector through innovative financing to meet development needs.
For this purpose, Punjab Public-Private Partnership Authority and 165 mega projects have been identified for the next financial year including the Lahore Ring Road (SL-4), doubling of Multan-Vihari Road, Nulla Lie (Rawalpindi) Expressway, Pani The provision of meters and includes. Rawalpindi Ring Road etc. He mentioned that projects coming under PPP will be exempted from sales tax for five years.
The Minister told the House that Rs.15 billion is being allocated for Community Development Program (CDP) to initiate labor intensive programs, while hefty amount for projects under the Sustainable Development Goals Attainment Program (SAP) Is also being taken.
Since micro, small and medium enterprises (MSMEs) have an important role in the economic development of Punjab, he said, an allocation of Rs 8 billion was made for MSMEs. In addition to the tax exemption, reforms will be introduced in the sector, along with rural enterprises, he said, adding that with the intervention of the government, the accumulation of capital injection in the market was four to five times as expected.
Hashim Jawan said that TEWTA (Technical Education and Vocational Training Authority) will be given Rs 6.87 billion, which will enable the youth to participate actively in technical training and economic activities. In this budget, he said, 1.5 billion rupees will be spent on the Hunarmand Nojwan program, while 4.9 billion rupees for the skill development program. The TEVTA courses will be revised to bring them internationally at par.
Improving the standard of living of the poorer section of the society has always been the top priority of Prime Minister Imran Khan and the Chief Minister of Punjab, he said and the Punjab Social Protection Authority (PSPA) budget will be around 4 billion rupees for FY 2020-21. . Punjab Punjab Program (PEP) will be implemented. He said that Panagahs (asylum houses) are being constructed in every divisional headquarters for social welfare, while two new centers are being set up in Lahore and Rawalpindi to prevent violence against women.
Hashim Jawan said that in 10 billion districts i.e. Bahawalnagar, Bahawalpur, Rahim Yar Khan, DGKhan, Muzaffargarh, Rajanpur, Leya, Bhakkar completed poverty and employment projects worth more than Rs 2 billion under South Punjab Poverty Alleviation Program (PPPAP) Will go. , Khushab and Mianwali. Similarly, Rs 1.15 billion will be spent on the Veer Aay, Janan and Self Reliance (Wings) project in the districts of Vihari, Chinyot, Sargodha, Pakapattan, Khanvel, Okara, Multan, Sheikhupura and Rawalpindi.
An amount of Rs 5.36 billion has been set aside for the Human Capital Investment Project for people living below the poverty line.
In an effort to provide access to government departments to the people of South Punjab, the establishment of DakshinPunjab Secretariat consisting of 16 departments has been approved and an investment of 50 billion rupees has been made in this regard. He said that the posts of Additional Chief Secretary and Additional IG Police Punjab have been created and both officers will take charge of their respective offices from July 01, 2020.