Mohsin Naqvi says the incumbent caretaker government is focusing on development projects in the province.
LAHORE: (UrduPoint/Pakistan Point News-Oct 27th, 2023: Caretaker Punjab Chief Minister Mohsin Naqvi said that the caretaker government would present next fiscal quarter budget on Monday.
Talking to newsmen in Lahore today, he said incumbent caretaker government is focusing on development projects in the province.
He said government is ensuring timely completion of the projects.
He said caretaker government is taking all-out measures for the welfare of the farmers.
The Punjab Finance Department is in the final stages of preparing the budget for the next four months, with expectations that it will be formally approved by Sunday.
According to inside sources, the budget allocated for non-developmental expenditures over the next four months is estimated to be approximately Rs725 billion.
It's worth noting that the interim Punjab government had previously presented a budget of Rs1719.3 billion for the first four months of the fiscal year 2023-24. This presentation aligns with the provisions of Article 126 of the Constitution of Pakistan, which authorize the caretaker government to approve expenditures for a period not exceeding four months.
The total budget for the upcoming four months amounts to Rs1719.3 billion. It was projected that Punjab would receive Rs881 billion in tax receipts from the Federal government, with an additional contribution of Rs194 billion from the provincial government.
Importantly, no new taxes were imposed for this particular period in the current fiscal year. Specifically, the education sector was allocated Rs195.1 billion, while the health sector received Rs183.7 billion in funding for the four-month period.
