Sindh and Punjab Unveil Ambitious Budget Plans

The Sindh government is gearing up to reveal a budget exceeding Rs3 trillion for the upcoming fiscal year 2024-25, following in the footsteps of the federal and Punjab budgets. This budget is anticipated to bring about positive changes, including a substantial increase of 20-25% in salaries for government employees, a 15% rise in pensions, and a probable raise in the minimum wage. The development budget for Sindh is expected to surpass 900 billion rupees, with a dedicated allocation of 12 billion rupees for Karachi mega schemes. The province aims to streamline its development program by integrating a new portfolio instead of introducing new schemes.

To boost provincial revenue collection, efforts will be intensified, potentially leading to adjustments in various tax rates. The government plans to cut down on vehicle purchases and implement austerity measures for furniture and other procurements. Cost-saving initiatives such as promoting video conference meetings to reduce official foreign trips are also on the agenda.

On the other hand, Punjab has presented a tax-free budget amounting to 5 trillion 446 billion rupees amidst opposition uproar. The budget forecasts total revenue of 4 trillion 643 billion 40 crores, with a significant portion of 3 trillion 683 billion 10 crores expected from the federal government under the NFC award. Provincial revenue is estimated at 960 billion 30 crores, marking a 54% increase from the previous year.

The Punjab budget does not propose any new taxes or adjustments to existing tax rates. Development projects have been allocated funds totaling 842 billion rupees. The budget outlines a salary increase of 20-25% and a pension hike of 15%, along with a proposed raise in the minimum wage from Rs32,000 to Rs37,000.

Punjab has introduced various initiatives to benefit its citizens, including free solar supply for consumers using up to 100 units of electricity, allocating funds for a farmers' tractor scheme, housing programs like 'Apna Ghar Apni Chhat,' and financial assistance through the 'Nigehbaan Card.' The Chief Minister's 'Roshan Gharana' program and the laptop scheme are also set to receive significant allocations.

The unveiling of the budgets by Sindh and Punjab for the fiscal year 2024-25 showcases a commitment to economic development and welfare initiatives. With salary increases, pension hikes, and allocations for key sectors, these budgets aim to uplift the provinces and improve the quality of life for their residents.