LAHORE                  -             Punjab Finance Minister Hashim Jawan Bakhat Tuesday announced that Punjab Government had made an allocation of Rs350 billion for its Annual Development Programme (ADP) for the next fiscal year.

Addressing a Pre-Budget Public Private Partnership Dialogue organized by Punjab Board of Investment and Trade (PBIT), he assured that the private sector’s issue of issuance of certification would also be addressed in the next budget for which private sector would be given an opportunity for work instead of establishment of authorities in public sector.

The Punjab government would facilitate the private sector and single tax return form was ready which would be launched after resolving the matters in national tax form. The provincial government was committed to remove the obstacles for the private sector while tax and stamp duties were cut down for the construction sector already while 50 more taxes would be eradicated in the Budget 2020-21.

Hashim Jawan Bakhat informed that on the demand of Sailkot Chamber of Commerce and Industry, duties from imports for exporting sector were exempted. He mentioned that establishment of modern police stations were started in Punjab while on the demand of traders communities, these polices stations would also be established in commercial centers on priority basis.

Further, revival of ring road was also done while work on the southern loop was underway.

The minister asked the private sector to come up with their proposals before the budget and highlight their issues with the public sector so that these issues would be addressed in the budget.

Addressing on the occasion, Punjab Minister for Industry and Trade Mian Aslam Iqbal said that the Punjab government was going to launch a new start-up program of Rs30 billion with the help of Bank of Punjab (BOP). He said the new businesses would be provided training and support while 20 percent share was allocated for women in the program. He said Rs600 million worth research board was established for pharmaceutical industry which would be operational soon. Further, the textile industry issues would be resolved on priority basis. He said the government was considering subsidize or concessional tariff for the industry. He said out of box reforms were being introduced for industrial revival.

Chairman TEVTA Salman Siddique informed the steps taken by the government for technical education and skill development. Chairman PBIT Jahnzab Burana informed the audience about the government initiatives for IT, pharmaceutical and textile industries development.