LAHORE: Measures to broaden the tax net instead of burdening the existing taxpayers and setting up of coal and solar power plants from own resources figure prominent in the Punjab government’s over Rs1 trillion budget for the next fiscal being presented in the provincial assembly on Friday (today).

Following in the footsteps of the federal government, the provincial administration would also propose a 10 per cent increase in the salaries and pensions of its serving and retired employees, sources told Dawn on Thursday.

Out of the estimated Rs330 billion annual development plan a sum of Rs290 billion has been allocated for ongoing and new schemes. A sum of Rs40 billion has been set aside for chief minister’s initiatives like Daanish Schools, Ashyana Housing Schemes and others special programmes in the development sector.

Envisioning an annual growth rate at eight per cent during the next four years, the government plans to equip 400,000 youth with skills and create approximately one million jobs every year.

With an initial allocation of Rs20 billion, Metro bus projects would be started in Multan and Faisalabad during the next financial year.

Under the National Finance Commission Award, Punjab would get Rs812 billion from federal divisible pool while expecting Rs21 billion in grants and loans from international donor agencies for development sector.

“The Punjab expects to generate Rs150 billion from the existing taxes and Rs60 billion from non-tax heads. There would be reforms in the provincial taxation system to net the under taxed or untaxed people. Owners of five-marla houses in the A-category will have to pay property tax while the scope of GST on services has been proposed to be extended to 43 sectors from the present 37.

In order to minimise the ongoing energy crisis, the Punjab government plans to establish from own resources coal and solar power projects. A sum of Rs31 billion has been allocated for setting up coal power plants in Rahim Yar Khan and Muzaffargarh.

In the education sector, provision of laptops to talented secondary school students would be continued while setting up of information technology labs have been proposed in all middle schools of the province.

A veterinary university in Bahawalpur and an IT University in Rahim Yar Khan has also been proposed to be set up during the next fiscal year.

Published in Dawn, June 13th, 2014