Lahore:
The Punjab Assembly is expected to convene June 11, when a summary suggesting that the session has been forwarded to the governor, according to official sources.
The provincial government is preparing to present the annual budget for the financial year 2024-25 on June 13, when the finance department ends the events.
Budget documents have been sent for printing and Finance Minister Mujtaba Shujaur Rehman is preparing his budget speech.
Sources show that chief minister Maryam Nawaz Sharif has instructed that no new taxes will be introduced in the upcoming budget.
Proposal from Revenue Board and Punjab Revenue Authority, which suggest that new tax measures have reportedly been rejected. Instead, the government is reviewing existing taxes to assess potential changes in their rates.
The total size of the upcoming budget is expected to be around RS1,200 billion.
Special attention will be paid to health, education and tourism in the new tax level. Compared to the previous year, the education budget will see an increase of RS110 billion, while the awarding of the health sector is expected to increase with RS90 billion.
Tourism is set to receive a significant boost with a 600% increase in financing. The tourism budget is estimated at RS35 billion.
One of the flagship initiatives under the new budget is the expansion of health facilities in Lahores Nawaz Sharif Medical City, where further hospitals will be constructed under a public-private partnership model.
The provincial government also plans to introduce extensive sanitation and clean drinking water schemes across Punjab.
Development of infrastructure will be another major focus.
The transport network is expanded to additional cities, while road and infrastructure projects are planned for 66 cities throughout the province.
The government aims to promote inclusive growth and improved public services without adding new tax burds to the public.
