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Business Recorder
16-06-2025
- Business
- Business Recorder
Budget FY2025-26: Punjab govt presents Rs5.3trn ‘tax-free' budget
Punjab Finance Minister Mujtaba Shuja-ur-Rehman on Monday presented the provincial budget for the financial year 2025-26 in the assembly session. A week after the federal government announced its budget, the provincial government proposed its Rs5.335 trillion budget for the upcoming fiscal year. Out of the total budget outlay, Rs2.706 trillion has been allocated for non-development expenditure, including pensions and salaries. 'The non-development expenditure has increased by 6%,' he said. The provincial government has budgeted Rs590 billion under current capital expenditure. As the provincial minister presented the budget, the opposition lawmakers of Pakistan Tehrik-e-Insaf (PTI) protested. He started the budget speech by mentioning the measures taken by the incumbent provincial government. 'I would like to congratulate the political and military leadership for safeguarding national interests during the recent tensions with India,' the minister said. 'We have completed 6,104 projects during the ongoing fiscal year,' he informed. He shared that the government is establishing the Nawaz Sharif Institute of Cancer Treatment and Research in Lahore for Rs72 billion. Record development budget The provincial government allocated Rs1.24 trillion for development in FY26, an increase of 47% as compared to Rs842 billion allocated in FY25. 'This budget marks a strategic shift in Punjab's history,' said the minister. 'This is the highest ever development budget in the province's history.' For the province of Punjab, federal transfers have been estimated at Rs 4,062.2 billion under FDP for the upcoming fiscal year. Meanwhile, the provincial government has set a target of Rs828.1 billion for its own-source revenues in FY26. Punjab Revenue Authority (PRA) targeted to collect Rs340 billion in FY26. Provincial surplus The Punjab government has allocated Rs740 billion under the estimated provincial surplus (EPS) for FY26, amid an understanding reached between the federal government and the International Monetary Fund (IMF). 'It is pertinent to mention that the achievement of this provincial surplus is directly related to FBR's revenue target,' said the minister. The provincial government has allocated Rs494 billion for the social sector, which accounts for 40% of the development budget. Salaries and pensions Provincial government employees to receive a 10% salary increase. Meanwhile, the provincial government increased pensions by 5% for FY26. Education The provincial government has allocated Rs148 billion for education under the development package for FY26. Whereas, Rs661 billion was budgeted for the non-development expenditure of the education sector. Laptop scheme Under the Chief Minister's Laptop Scheme, Rs15.1 billion has been earmarked to distribute laptops to 112,000 students in FY26. The provincial government has budgeted Rs40 billion for the upliftment of government schools. Moreover, the Merit Scholarship Programme will receive Rs15 billion to provide educational opportunities to deserving students. For special education, the province has allocated Rs5 billion for FY26. Moreover, Rs25 billion has been earmarked for higher education in FY26. Health Health budget for the province has been raised to Rs630.5 billion for FY26. 'Similar to last fiscal, the health sector remains pivotal for the provincial government,' the minister said. The province has allocated Rs181 billion under the development budget for the health sector, an increase of 131% as compared to the last fiscal. Whereas, Rs450 billion has been earmarked under non-development expenditure for FY26. The minister shared that the provincial government has earmarked Rs109 billion for the establishment of the Nawaz Sharif Medical District in Lahore. He shared that Rs79.5 billion has been allocated for free medicines disbursement in government hospitals. Budget FY2024-25: Punjab govt presents Rs5.4 trillion 'tax-free' budget The Punjab government has allocated Rs411.1 billion for local bodies. Whereas, Rs150 billion and Rs20 billion will be provided as special grants for waste management and municipal corporations. Social security package The provincial government has proposed to allocate Rs70 billion under a social security package. Agriculture The provincial government has allocated Rs123 billion for the development expenditure of the agriculture, livestock and irrigation sector. Whereas, Rs56.2 billion has been budgeted for non-development expenditure. The Punjab government has allocated Rs335.5 billion for the construction sector. Earlier, Business Recorder, citing its sources, informed that the upcoming provincial budget will be tax-free, and no new taxes will be introduced. Estimated at over Rs1,200 billion, the new fiscal plan is expected to feature a record-breaking development outlay, emphasising health, education, infrastructure, and tourism. As per the report, the new budget will include over 850 development schemes, and the key projects include the expansion of Nawaz Sharif Medical City in Lahore, where new hospitals will be constructed under a public-private partnership model. The government also plans to roll out extensive sanitation and clean drinking water initiatives throughout Punjab. Infrastructure development remains a central priority.
Express Tribune
15-06-2025
- Business
- Express Tribune
CM outlines fiscal, development agenda
Sindh Chief Minister Murad Ali Shah outlined a fiscal and development agenda for the province while highlighting serious financial challenges and federal shortfalls. Addressing a post-budget press conference on Saturday, the CM criticised the federal government for failing to meet its financial commitments, revealing that Sindh was informed just one day before the budget presentation that Rs105 billion in expected funds would be withheld. Sindh has received Rs1,478.5 billion from the divisible pool since last year, but Rs422.3 billion remains outstanding. He expressed hope that the withheld amount would be disbursed by the end of June. Despite being under an IMF programme that demands strict fiscal discipline, the Sindh government will allocate Rs590 billion for development projects this year, with a total budget of Rs3.45 trillion, Rs1 trillion for development and Rs2.15 trillion for current expenditures. Notably, Rs1.1 trillion is earmarked for salaries and pensions, leading to salary increases of 12 per cent for lower-grade employees and 10 per cent for higher grades. Sectoral budget increases include an 18 per cent rise in education funding and an 11 per cent increase in health. Funding for agriculture, irrigation, and local government projects has also seen significant boosts. Furthermore, Rs236 billion has been allocated for infrastructure projects in Karachi, including public-private partnership initiatives. CM Shah highlighted Sindh's social welfare achievements, particularly in housing for flood victims, with 500,000 homes built and another 850,000 under construction, totalling 1.3 million. To enhance rural living standards, the CM announced a Rs600-billion-project for rural water and sanitation, benefiting 4.5 million villagers. Regarding taxation, Murad noted that no new taxes were introduced in the budget, with some taxes eliminated or reduced, including the abolition of the entertainment tax and cuts to restaurant taxes. The stamp duty on third-party vehicle insurance has been reduced to Rs50, with a drop in the insurance tax from 15 per cent to five per cent. To modernise governance, the Sindh government is digitising land records through block chain for easier access. The CM claimed that free laser levellers will be provided to small farmers, with subsidies for larger ones, alongside the implementation of cluster farming technology. The CM said that improvements in education and health include the establishment of 34,000 new caste centres and expanded support for persons with disabilities. Cognitive Remediation The CM outlined the K-4 water project structure, where the federal government is responsible for sourcing water from Keenjhar Lake, while the Sindh government manages distribution and has allocated necessary funds. A total of Rs20 billion is earmarked for the K-4 feeder, alongside plans for a costly five-million-gallon desalination plant. The CM also noted 20,000 to 25,000 job vacancies in grades I to IV, with plans for recruitment via IBA-administered tests for BPS-V to VII and filling higher Grade 16 positions. The CM mentioned Sindh's conditions for supporting the federal budget, emphasising equitable distribution of development schemes and the detrimental cut of university funding from Rs4 billion to Rs2 billion, which has sparked protests. On the critical Sukkur-Hyderabad Motorway, the CM expressed concern over the halving of federal funding from Rs30 billion to Rs15 billion. The CM emphasised that major projects are not included in the Federal Public Sector Development Programme (PSDP) and criticised the 18 per cent tax on solar panels as unjust. He warned that the Pakistan Peoples Party would not support the federal budget if unresolved.
Business Recorder
14-06-2025
- Business
- Business Recorder
Post-budget press conference: Sindh CM unveils fiscal & development roadmap
KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Saturday unveiled an ambitious fiscal and development roadmap for the province, reaffirming a strong commitment to social welfare, infrastructure reform, and digital progress, besides highlighting a shift towards corporate farming. At the same time, he sharply criticized the federal government for persistent financial shortfalls and what he described as discriminatory treatment towards Sindh. At the start of an extensive post-budget press conference, the Chief Minister condemned Israel's recent attack on Iran and criticized opposition lawmakers for their disruptive behaviour during the passage of a resolution against the aggression. He questioned the motives behind their resistance, accusing them of politicizing a humanitarian issue, and underscored the provincial government's firm position against terrorism. Highlighting governance continuity, he noted that the Pakistan Peoples Party has now presented its 17th consecutive provincial budget — an achievement attributed to democratic stability and consistent public service delivery. However, he delivered a sharp rebuke to the federal government for failing to honour financial commitments, revealing that Sindh was informed just a day before the budget presentation that Rs105 billion in expected transfers would be withheld. While the province has received Rs1,478.5 billion from the divisible pool since last year, a substantial Rs422.3 billion remains unpaid. He expressed cautious optimism that the outstanding amount would be cleared by the end of June. Despite the province operating under an IMF programme that enforces strict fiscal discipline, Murad announced that Sindh has allocated Rs590 billion for development spending this year. Out of the Rs3.45 trillion total budget, Rs1 trillion has been designated for development and Rs2.15 trillion for current expenditures. Of the current expenditure, Rs1.1 trillion is committed to salaries and pensions, supporting a 12 percent pay rise for lower-grade employees and a 10 percent increase for those in higher grades. Sectoral allocations have seen notable growth, including an 18 percent increase in education spending and an 11 percent boost in health. Infrastructure development in Karachi will receive Rs236 billion, with a significant share directed through public-private partnership models. Sectors such as agriculture, irrigation, and local governance have also secured sizable increases in funding. Sindh CM Murad presents Rs3.45trn provincial budget for FY2025-26 The Chief Minister drew attention to Sindh's achievements in disaster recovery, noting that 500,000 homes have already been constructed for flood victims, with another 850,000 under construction — bringing the total to 1.3 million. He said this rapid response has earned international recognition, surpassing Nepal's post-earthquake reconstruction efforts. Murad unveiled a Rs600 billion rural water and sanitation programme that will benefit 4.5 million villagers. Designed to be completed during the current government's tenure, the project will adopt a community-led model managed by NGOs. The initiative aims to reduce waterborne diseases, and PPP Chairman Bilawal Bhutto Zardari has described it as revolutionary. Turning to taxation, he confirmed that no new taxes were introduced in the budget. Several levies have either been abolished or reduced, including the entertainment tax and restaurant taxes. Stamp duty on third-party vehicle insurance has been slashed to Rs50, and the insurance tax reduced from 15 percent to 5 percent. In line with IMF requirements, a list of tax-exempt goods will soon be published. Digital governance is also on the agenda. The provincial government is piloting blockchain-based digitisation of land records in Matli and Sukkur to improve access and transparency. Free laser levellers will be distributed to small farmers, while subsidies for larger units will support the adoption of cluster farming techniques. In the social sectors, the province will establish 34,000 new caste centres and expand support for persons with disabilities. Cognitive Remediation Therapy services will be extended, and youth development centres will be set up in every district. The Sindh Institute of Child Health has launched a broad paediatric network, while the Sindh Hari Card programme has been allocated Rs8 billion for direct support to farmers. On water security, Murad offered a detailed update on the K-IV water project, clarifying that the federal government is responsible for sourcing water from Keenjhar Lake, while Sindh will handle distribution. Rs20 billion has been earmarked for the K-IV feeder infrastructure. He also announced plans for a five-million-gallon desalination plant to meet Karachi's growing water needs. Job creation remains a priority. He revealed that 20,000 to 25,000 vacancies in Grades 1 to 4 will be filled, while recruitment for Grades BPS-5 to BPS-7 will be conducted through IBA-administered exams. Senior positions in Grade 16 and above will also be filled. He expressed frustration with the federal government's development priorities, noting that only 18 of 25 Public Works Department projects were transferred to Sindh. He criticized the halving of university funding from Rs4 billion to Rs2 billion, which has triggered widespread protests. On the stalled Sukkur-Hyderabad Motorway, he noted that federal funding had been cut from Rs30 billion to Rs15 billion. While the Islamic Development Bank is supporting three sections, negotiations for international funding to complete the project are underway. Murad regretted the Centre's rejection of Sindh's offer to co-finance the project with Rs25 billion, provided the federal government matched the amount. He also condemned the 18 percent federal tax on solar panels, calling it unjustified. He reiterated that the PPP would withhold support for the federal budget if such regressive measures are not withdrawn. Sindh, in contrast, has allocated Rs25 billion for solarization under its own climate strategy, and has launched afforestation efforts to tackle environmental degradation though he acknowledged these must be scaled up. On the Safe City project, Phase-I is expected to conclude by September or October 2026. Surveillance systems are already active in key areas, including II Chundrigar Road, where security cameras are successfully identifying individuals on watch lists. Funds for Phase-II are secured for 2026 implementation. The chief minister acknowledged delays in operationalizing 150 buses in Karachi, citing funding limitations, but pointed to progress in sanitation and infrastructure development. Though digitisation of land records remains incomplete, he said blockchain-based pilots are already underway. Population growth, he argued, remains Pakistan's most serious challenge. In response, Sindh has merged the health and population welfare departments for improved coordination. Murad also criticized the federal government for failing to fund large dam projects and reaffirmed his province's alignment with the Prime Minister's position to avoid controversial water infrastructure proposals. Responding to criticism over a new helicopter and vehicles for the CM's office, he clarified that the existing helicopter is 36 years old and that the vehicles haven't been updated in years. A ban on vehicle purchases will apply in the next fiscal year as part of cost-cutting measures. On agricultural policy, he noted a shift towards corporate farming while ensuring inclusion of existing farmer networks. Murad acknowledged rising poverty in Sindh, attributing it to constraints under the IMF programme. He stressed the importance of economic growth for poverty alleviation and defended the province's approach to transparent budgeting, saying repeated attempts were made to brief the opposition. He accused opposition members of exploiting humanitarian concerns particularly the Israel resolution for political advantage and derailing efforts at constructive dialogue. He asserted that the PPP-led Sindh government will not be blackmailed by either PTI or MQM. While not a formal coalition partner at the Centre, the province successfully argued its case for long-standing under-funding, resulting in an Rs86 billion allocation to help bridge disparities with other provinces. Copyright Business Recorder, 2025
Express Tribune
14-06-2025
- Business
- Express Tribune
Sindh CM shares grievances with centre in post-budget press conference
Listen to article Sindh Chief Minister Murad Ali Shah criticised the federal government for failing to meet its financial commitments to the province, while promising enhanced development and relief measures in the 2025–26 budget. Speaking at a post-budget press conference on Saturday, Shah said the provincial budget totalled Rs3.45 trillion, with a record Rs1.018 trillion allocated for development projects. He warned that these figures could change depending on whether the federal government meets its revenue transfer obligations. He announced that 1,460 development schemes, worth Rs590 billion, will be completed this fiscal year. This marks a record for the province. On public sector salaries, Shah confirmed a 12% increase for employees in grades 1–16 and a 10% raise for those in grades 17–22. Total expenditure on salaries and pensions will reach Rs1.1 trillion. Sector-wise, education has seen an 18% increase in budget allocation, healthcare 11%, local government 5%, and energy 16.5%. The transport department will receive Rs 59.6 billion, while agriculture will get Rs 22.5 billion. Rs132 billion has been earmarked for local bodies and Rs43 billion for irrigation. For Karachi alone, a dedicated budget of Rs236 billion has been allocated — excluding the Rs95 billion public-private partnership projects already underway. The CM made bold claims regarding rehabilitation efforts for flood-affected areas, stating that 500,000 houses have been completed, 850,000 are near completion, and 1.3 million are under construction. He said international institutions, including the World Bank, have recognised the effort as a global model of success. He also cited a massive rural drainage and water supply initiative worth Rs600 billion, which will be locally implemented and NGO-supervised. On taxation, Shah stated that no new taxes have been imposed. In fact, several taxes have been eliminated, including restaurant and entertainment levies. Third-party motorcycle insurance has been exempted, stamp duties reduced, and numerous administrative fees halved. In agriculture, the CM announced free laser levellers for small farmers and an 80% subsidy for large-scale cultivators. He also introduced cluster farming as a new model. The Sindh Institute of Child Health was described as the world's largest such network. Initiatives for persons with disabilities, youth development centres, and new school schemes were also unveiled. Shah openly criticised the federal government for excluding major Sindh projects — such as the K-IV water supply project, desalination plants, and other energy-related infrastructure — from the federal Public Sector Development Programme (PSDP). He warned that the Pakistan Peoples Party (PPP) would not support the federal budget if Sindh does not receive a fair share. 'We are not part of the federal coalition, only offering conditional support. If Sindh is not treated equally, we will withdraw our backing,' he said. Shah defended the procurement of helicopters and official vehicles, adding that a ban on new vehicle purchases would be enforced starting next year. Concluding his address, the CM said the Sindh government is working with clear direction and intent for public welfare — as reflected in the increased public mandate in the last election.
Express Tribune
20-04-2025
- Business
- Express Tribune
Live chicken missing from shops despite price revision
Despite official efforts to regulate market prices, consumers faced rampant overcharging across the city during the past week as vendors continued to ignore government-issued price lists and failed to comply with the mandated sale of live chicken at fixed rates. The Punjab government had revised the price of live chicken for the first time in over two and a half months, reducing it by Rs13 per kilogram and setting the official rate between Rs384 and Rs398 per kg. However, live chicken was not available for sale in the city. Instead, sellers offered only chicken meat, charging between Rs590 and Rs700 per kg, while boneless chicken was sold at prices ranging from Rs900 to Rs1,050 per kg, significantly above the approved rates. The price violations extended to essential vegetables and fruits, many of which were sold at double or even triple the official prices. Potatoes (A-grade), officially priced at Rs45 to Rs50 per kg, were sold for Rs80 to Rs100. Lower grade potatoes were also priced far higher in the market than the official rates. Onions (A-grade), with a fixed price of Rs40 to Rs45 per kg, were sold for Rs80 to Rs100, while B- and C-grade varieties also saw inflated rates. Tomatoes saw an official reduction of Rs20 per kg, bringing the price of A-grade tomatoes to Rs36 to Rs40 per kg. Yet in the markets, they were sold at Rs80 to Rs90 per kg. Garlic (local), priced at Rs152 to Rs160 per kg, was available for Rs150 to Rs250, while the GI variety, fixed at Rs343 to Rs360, was sold between Rs400 and Rs500. Chinese garlic, officially Rs353 to Rs370 per kg, reached Rs500, and the Harani variety, fixed at Rs220 to Rs230, was sold for up to Rs400. Both Thai and Chinese ginger, fixed at Rs353 to Rs370 per kg after a Rs20 reduction, were sold between Rs450 and Rs500. Other vegetables saw similar discrepancies. Farm cucumbers, fixed at Rs42 to Rs45 per kg, were sold for Rs60 to Rs100. Brinjal, officially Rs47 to Rs50 per kg, was sold at Rs80 to Rs120. Spinach, with an unchanged official price of Rs23 to Rs25, was sold for Rs50 to Rs60. Capsicum, cauliflower, cabbage, and carrots also showed large price gaps.
