Punjab Cabinet approves the budget for the year 2016-17

Lahore: Punjab Chief Minister Muhammad Shahbaz Sharif presided over a meeting of provincial cabinet, here today, which gave approval to the budget for the year 2016-17. Finance Bill 2016, revised estimates for the fiscal year 2015-16 and supplementary budget 2015-16 were also approved in the meeting. Performance of ministers of concerned departments especially Ayesha Ghaus Pasha, Rana Sana Ullah, Farrukh Javed, Chief Secretary, Chairman Planning & Development, Secretary Finance and officers of concerned departments with regard to preparation of the budget was highly appreciated in the meeting. The provincial cabinet also thanked political and administrative team for playing a key role in budget preparation.

Addressing the meeting, the Chief Minister said that the biggest development budget in the history of the province is being presented and record funds have been allocated for education, health and agriculture sectors. He said that funds of billions of rupees are being earmarked for provision of clean drinking water whereas unprecedented measures have been proposed for uplift of social sector.

Shahbaz Sharif said that farmers have faced huge losses during last two years however historic steps will be taken under the new budget for prosperity of cultivators. He said that federal government has also announced a splendid package for farmers in the budget. He said that measures will be taken on priority basis to save farmers from recession at international level. He said that on the instructions of Prime Minister, prices of Urea and DAP fertilizers have been substantially reduced. Likewise, a considerable decrease has been made in the power tariff for agri tube-wells, he added.

The Chief Minister said that all possible steps will be taken for the betterment of farmers. He said that special initiatives have been taken for the progress and uplift of south Punjab. He said that new budget will reflect lasting development, strong economy, public welfare and balanced development of all areas of the province.

The meeting was briefed on important features of provincial budget and Annual Development Programme and members of the cabinet presented their proposals regarding the budget. Provincial ministers, advisors, special assistants, Chief Secretary and secretaries of concerned department attended the meeting.