a day ago
Punjab to unveil new budget today, pledges ‘people-friendly' spending amid economic pressures
ISLAMABAD: Pakistan's Punjab province, the country's most populous and economically crucial region, will present its budget for the 2025–26 fiscal year today, Monday, with officials promising a 'people-friendly' plan, Radio Pakistan reported.
Punjab Finance Minister Mujtaba Shuja-ur-Rehman is scheduled to table the budget in the provincial assembly in Lahore after the cabinet's formal approval.
Punjab's budget is seen as politically significant for the ruling Pakistan Muslim League-Nawaz (PML-N) of Prime Minister Shehbaz Sharif, which faces tough economic and governance challenges nationwide.
'This budget reflects Chief Minister Maryam Nawaz Sharif's vision to prioritize people's welfare and accelerate development projects across the province,' Rehman was quoted as saying by state-run Radio Pakistan.
Punjab, home to over half of Pakistan's 240 million people, plays a dominant role in the national economy, contributing roughly 60 percent of the GDP. It also receives the largest share of federal funds under the National Finance Commission (NFC) Award. Last year, Punjab's budget for FY2024–25 was about $19.6 billion, with a development outlay of $3 billion.
Officials have said the upcoming budget will maintain a focus on infrastructure upgrades, agriculture support and social welfare schemes to help shield the population from rising prices.
Local media reports suggest the government could announce new initiatives in education, health care and urban transport, along with efforts to address power shortages in rural areas.
