Punjab To Be Divided Into Three Parts For Development Budget

(@mahnoorsheikh03)

Punjab to be divided into three parts for development budget

Developmental budget will be divided among South, North and Central Punjab.

Islamabad (Pakistan Point News – 3rd April, 2019) The province of Punjab will be divided into three parts in the upcoming fiscal budget.

According to details, Punjab will be divided into three parts in terms of development.

Sources said that the budget for next fiscal year will amount to Rs 400 billion.

Developmental budget will be divided among South, North and Central Punjab. The provincial departments have also done the paper work to divide Punjab into three parts for development budget.

Moreover, recommendations to allocate 35 per cent development budget to South Punjab have also been given.

Budgetary proposals for the current Financial Year 2019-20 are under consideration.

The budgetary proposals amount to Rs 418 billion.

The government is being urged to avoid cutting the Public Sector Development Program (PSDP) budget as it will harm the economy in the long run.

Meanwhile, a new report of Asian Development Bank (ADB) noted that the supplementary consolidated government budget for FY2019, adopted in September 2018, envisaged a decline in the budget deficit to 5.1% of GDP in FY2019, mainly by cutting the development expenditure excluding CPEC projects, but it also included measures to enhance revenue and extend relief to the poor.

Budget expenditure increased by 5.5% in the first half of FY2019 over the same period a year earlier as current spending rose for interest payments and defense, the report stated.

Mahnoor Sheikh

The writer is News Editor, Pakistan Point. She has graduated in Mass Communication and has worked in various media houses