Punjab assembly likely to call budget session on 13th June

The budget session of Punjab assembly is expected to be called on 13th June.

Sources told that the Punjab government sent a summary to the governor for summoning the budget session. The Punjab governor will summon the budget session after concluding the current session, sources added.

Meanwhile, the coalition government is all set to present the budget for next fiscal year 2022-2023  in the National Assembly (NA) today (Friday).

According to details, Minister for Finance and Revenue Miftah Ismail will present the budget in the National Assembly at 4:00 pm, with a likely outlay of over Rs9.5 trillion.

The budget has been formulated while considering the existing challenges being faced by the economy on domestic and international fronts. Miftah Ismail will also present Supplementary Grants 2021-22 and Finance Bill 2022.

Keeping in view the robust growth of revenues during the current fiscal year (2021-22), the government is likely to set the revenue collection target at over Rs.7 trillion for the fiscal year 20222-23.

A development budget worth Rs800 billion has been proposed for the next financial year, out of which Rs538 billion will be allocated for federal ministries and departments.

Meanwhile, the government has decided to allocate Rs 25 billion for Atomic Energy Commission, while Rs41.87 billion will be allocated to Higher Education Commission (HEC) and Rs2.5 billion for Aviation.