LAHORE: The Punjab government is proactively strategising for the upcoming fiscal year with a strong focus on bolstering provincial resources and enhancing revenue generation.
This was evident in the second meeting of the Cabinet Committee on Resource Mobilisation, held on Monday in the Finance Department’s Committee Room.
Punjab Finance Minister Mujtaba Shuja-ur-Rehman chaired the session, which was participated in by the Additional Finance Secretary and heads of key tax and revenue departments.
The core agenda of the meeting revolved around a meticulous review of projected provincial resources and an in-depth evaluation of various strategies to optimise revenue collection for the new fiscal year.
The minister reaffirmed the government’s unwavering commitment to implementing an equitable and growth-oriented fiscal policy. This commitment underscores a balanced approach, aiming to foster economic development while ensuring fair distribution of the tax burden.
All taxable services will be under provincial revenue body
A significant point of discussion was the expansion of the tax net. The finance minister announced that all taxable services across Punjab would be brought under the purview of the Punjab Revenue Authority (PRA).
This move aims to broaden the tax base and ensure that all relevant services contribute to the provincial exchequer.
Furthermore, he emphasised that the harmonisation and standardisation of tax rates under the PRA would remain a top priority. This initiative is designed to promote fairness and transparency within the tax system, reducing complexities and potential discrepancies.
In a move to provide relief to citizens, the finance minister lauded the performance of the Excise Department and directed them to extend maximum possible tax relief to the public in the upcoming budget to alleviate financial burdens on the populace where feasible, while still striving for robust revenue collection.
Beyond taxation, the committee also deliberated on strategies to stimulate economic activity through increased investment. A key resolution was to actively encourage foreign investment in crucial sectors such as agriculture, mines and minerals. These sectors hold immense potential for economic growth and job creation within the province.
Additionally, the efficient utilisation of existing provincial assets was underscored as a vital step towards solidifying Punjab’s financial foundation. This could involve optimising the use of government-owned properties, land, and other resources to generate revenue or reduce expenditure.
Highlighting the critical nature of the committee’s work, the minister reiterated its strategic importance in shaping the province’s economic future.
He concluded the meeting by confirming that the comprehensive proposals finalised by the Resource Mobilisation Committee would be submitted to the Cabinet for formal approval. This will pave the way for their subsequent implementation, setting the financial course for Punjab in the upcoming fiscal year.The outcomes of this meeting signify the Punjab government’s proactive and strategic approach to fiscal management, aiming for both revenue growth and public welfare in the financial year 2025-26.
Published in Dawn, May 27th, 2025
