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Panel reviews...

2016-06-07
LAHOR E: The provincial government would present budget for 201617 on June 13, announced Punjab Finance Minister Dr Ayesha-Ghaus Pasha here on Monday.

The announcement came at a meeting of the budget committee at the Civil Secretariat in which the minister reviewed the positive and negative impact of the federalbudget on Punjab.

The minister said the final date hadbeenhxedaftergettingapproval from Chief Minister Shahbaz Sharif and Governor Rafiq Rajwana.

Sources privy to the meeting told Dawn that the provincial government had reviewed the impact of the federal budget on Punjab and showed reservation over double taxation in some sectors.

They said the government was planning to take up the matter of double taxation with the federal government as it was hurting the provincial government`s policy of promoting tax culture and frustrating taxpayers.

Sources said for example the issue of taxon property announcedby the federal government was not welcomed by the provincial government who was collecting tax on property. Similarly double taxation on some services sectors was also affecting the tax compliance in Punjab after the transfer of sales tax on services to provinces.

They said the minister though expressed satisfaction over 30 per cent increase in annual provincial growth in current fiscal year compared to 2014-15, she put focus on more revenue collection and meeting budgetary targets which might not be met by the end of the current fiscal.

Sources said Dr Pasha informed the meeting that the government would not have a deficit budgetrather it would be a balanced growth-oriented budget with major focus on heavy spending on development, service delivery, social sector and agriculture.

Furthermore, a handout quoted the minister as saying the provincial budget would be a developmental budget in which increase in growth rate, public-friendly tax collection system, social welfare projects, health, communication and strong polices for better performance of important departments besides practical implementation would be introduced.

She said revolutionary measures would also be announced for addressing the problems faced by small farmers and development of agri sector while special attention was also being given for giving relaxation in business and increase in export.

She said the ongoing projects would be focussed in theupcomingbudgetinstead of new schemes.

She informed the meeting that the Punjab government was publishing a booklet entitled `Citizen Budget` along with the draft of the budget in which difficult statistics of the budget and distribution method would be described in simple language.