Investor Presentaiton

the SDGs. Rather, it seeks to continue working on accelerating Sustainable Development Goals as a tool to 'recover better' and build a healthier and a safer Punjab. The Government of Punjab had also adopted a proactive approach to mitigate the negative impact on livelihoods by announcing a Tax Relief Package worth more than PKR18 billion in the last quarter of FY2019-20 along with increased Expenditure on Healthcare facilities, preventive and curative measures and Social Protection Package to offset the unemployment effect. Chief Minister's Insaf Imdad Programme 2020 for targeted monetary relief to the unemployed population segments, was launched with a total outlay of PKR 10.0 billion, PKR 1.0 billion was earmarked for disaster relief response and PKR 2.6 billion was transferred directly to the lowest District tier for relief measures. Furthermore, since it has been estimated that the negative impact of COVID-19 will continue till at least the first half of FY2020-21, the Government has adopted a multi-pronged Fiscal Strategy with a focus on striking a balance between i) Revenue generation through economic growth and broadening of the tax base rather than increasing taxes ii) Relief/economic stimulus for businesses especially the Construction Sector iii) Social Protection by providing relief to the COVID-19 affected sectors of the economy COVID-19 and its economic and social fallout overshadowed the contemporaneously lurking locust infestation peril that directly threatens Food Security. Pakistan, being a predominantly Agricultural economy, stands to be massively hit by the menace. As an emergency response measure, Government of Punjab acted swiftly and allocated PKR 500.0 million for locust control, in addition to the budget for disaster relief measures. The pragmatic and economically sound Provincial Financial Management owes in a large measure to the forum of Standing Committee for Cabinet on Finance and Development (SCCFD). Its mandate has already witnessed an evolution of sorts. The White Paper encapsulates some salient decisions of the SCCFD which enabled major course corrections, occasionally with Policy implications. The initiatives of Inclusive Budgeting and Framework for Rolling Expenditure (FRE) constitute paradigmatic shifts and are expected to take Financial Management a few notches higher in calibre and standard. Inclusive Budgeting is already off to a very promising start and FRE shall be employed rigorously for modulating Expenditure management adroitly. Page X

View entire presentation