The Punjab government, under the leadership of Maryam Nawaz Sharif, has introduced its inaugural budget for the fiscal year 2024-25, setting a historic precedent with an annual development plan (ADP) amounting to Rs842 billion. This ambitious budget, which includes a foreign aid component of Rs106.167 billion, marks a 28% increase from the previous year’s Rs655 billion, reflecting a significant leap towards comprehensive provincial development.
Finance Minister Mujtaba Shuja, in his budget speech, highlighted that the ADP is fully backed by 100% cash cover, showcasing the government’s robust five-year strategic priorities. The ADP is meticulously divided: 33% to the social sector, 29% to infrastructure, 13% to production, 5% to the services sector, and 20% reserved for special initiatives and other programs. This allocation strategy aims to address the multifaceted needs of Punjab’s development landscape.
A balanced approach is evident in the ADP, with Rs394.4 billion allocated for ongoing schemes and Rs404.41 billion for new projects. This ensures that existing projects are completed while new initiatives are launched, driving continuous progress across the province. Special initiatives by the Chief Minister are prominently featured, including Rs45 billion for agriculture, Rs20 billion for urban development, Rs9 billion for primary healthcare, Rs8.5 billion for roads, and Rs4 billion each for the Roshan Gharana solar scheme and sports and youth affairs. Additional allocations include Rs5.2 billion for fisheries, Rs7 billion for livestock, and Rs5 billion for tourism, notably for the development of Murree.
The social sector is a major beneficiary, receiving Rs280 billion, including Rs45 billion in foreign aid. Education takes a significant share, with Rs65.5 billion allocated: Rs45 billion for school education, Rs15 billion for higher education, and Rs6 billion for special and non-formal education. A new initiative, the Chief Minister’s school meal plan, is allocated Rs500 million, emphasizing a commitment to student welfare.
Healthcare sees a substantial boost, with Rs128.6 billion allocated, an 11% increase from the previous year. This includes Rs86 billion for specialized healthcare and Rs42 billion for primary and secondary health. Other social sector allocations include Rs8 billion for water supply and sanitation, Rs4 billion for social welfare, Rs1.4 billion for women’s development, and Rs61.57 billion for local government initiatives.
Infrastructure development is another focal point, with Rs246.8 billion allocated, including Rs18.51 billion in foreign aid. Notable projects include the rehabilitation of 684 km of roads, with significant allocations for the Muzaffargarh-Tarinda Muhammad Panah road (Rs31.48 billion), Multan-Vehari road (Rs13 billion), and Burewala-Vehari road (Rs12 billion). The irrigation department receives Rs25.8 billion, with Rs9.2 billion in foreign aid primarily for ongoing water channel improvement schemes.
Public building restoration is allocated Rs30 billion, while urban development receives Rs40.5 billion, including a foreign component of Rs9.15 billion. The energy sector, however, sees a relatively modest allocation of Rs7.5 billion.
The production sectors, covering agriculture, forestry, wildlife, fisheries, food, livestock, industries and commerce/investment, mines and minerals, and tourism, receive a total of Rs107.85 billion, including Rs13.46 billion in foreign aid. Agriculture alone receives Rs64.6 billion, with Rs11.8 billion in foreign aid. The Chief Minister’s initiative, particularly the Kisan Card package, will provide interest-free loans worth Rs75 billion to 0.5 million farmers. Additionally, Rs30 billion will be used to distribute tractors on easy installments, and Rs9 billion will be spent on converting 7,000 tube-wells to solar technology. Other notable allocations include Rs15.85 billion for on-farm water management and Rs2.65 billion for the agriculture transformation plan.
The forestry department receives Rs4 billion, fisheries Rs6.4 billion, wildlife Rs5.3 billion, and livestock Rs9 billion. Industries and commerce are allocated Rs10.7 billion, while tourism initiatives receive Rs6.5 billion.
The services sector is allocated Rs41 billion, including Rs5.9 billion in foreign aid. Key allocations within this sector include Rs20.7 billion for governance and IT, Rs18.5 billion for transport, and Rs1.4 billion for emergency services (1122).
The Punjab budget for 2024-25 is a comprehensive and ambitious blueprint aimed at driving economic growth, enhancing social welfare, and improving infrastructure. By balancing ongoing schemes with new initiatives and strategically allocating resources across various sectors, the government aims to achieve sustained development and address the diverse needs of the province. This budget reflects a commitment to strategic investment in the future of Punjab, promising significant improvements in various facets of public life.
