• Focus on development; laptop scheme, Kissan cards introduced
• No new taxes for agriculture, real estate sectors
The Punjab government, led by PML-N, unveiled its Rs5.45 trillion budget for 2024-25 amidst opposition protests. Despite IMF pressure, no new taxes were imposed on agriculture and real estate, maintaining lower rates than personal income taxes. Finance Minister Mujtaba Shujaur Rehman highlighted an increased Annual Development Programme (ADP) of Rs842bn, focusing on education, health, and agriculture. The surplus budget aims to follow Chief Minister Maryam Nawaz’s development roadmap, prioritizing tax-free initiatives like solar panel distribution and rationalizing provincial taxes.
Amendments to property tax laws and motor vehicle registration aim to enhance revenue collection. The budget seeks to increase salaries, pensions, and allocations for education, health, and infrastructure development. With projected revenue targets, the government aims to balance expenditures and revenue without burdening the poor, aligning with Punjab’s growth and public relief objectives.