KARACHI/ISLAMABAD: The Sindh government is set to present its budget for the upcoming fiscal year today, totaling Rs3,300 billion. This tax-free budget will be delivered by Chief Minister Murad Ali Shah and includes a deficit of Rs50 billion.
Key elements of the budget include a 15-20% increase in salaries for government employees and a minimum wage set between Rs35,000 and Rs36,000. Although no new development projects are planned, the budget proposes creating 50,000 new jobs and converting hundreds of homes to solar energy. Approximately Rs170 billion will be allocated for maintaining peace and security.
Punjab Budget Punjab unveiled its Rs5,446 billion tax-free budget yesterday amid opposition protests. The estimated total revenue stands at Rs4,643 billion, with Rs3,683 billion expected from the federal government under the NFC Award.
Provincial revenue is projected at Rs960 billion, marking a 54% increase from last year. The budget does not introduce any new taxes or raise existing tax rates. Funds amounting to Rs842 billion have been allocated for development projects.
Budget 2024-25 Highlights
- Salaries, Pensions, and Minimum Wage: Salaries in Punjab are proposed to increase by 20-25%, with pensions seeing a 15% hike. The minimum wage is set to rise from Rs32,000 to Rs37,000.
- Solar Panels: Free solar panels will be provided to households using up to 100 units of electricity.
- Farmers and Housing: Rs30 billion is allocated for the farmer’s tractor scheme, Rs10 billion for the “Apna Ghar Apni Chhat” (Own Home, Own Roof) program, and Rs2 billion for the “Nigahaban Card” (Guardian Card).
- Other Programs: The Chief Minister’s “Roshan Gharana” (Bright Family) program is slated to receive Rs9.5 billion, while the laptop scheme will receive Rs10 billion.
Additionally, the Pakistan Stock Exchange saw significant gains following the budget announcement for FY25, with the KSE-100 surpassing the 75,000 mark. Prices of petroleum products are also expected to decrease before Eid ul Adha.
