Summary Says special package would be introduced to support textile and sports industries
LAHORE (APP) – Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman said on Wednesday that Punjab government’s foremost priorities for upcoming fiscal year are to stimulate economic activity, promote industrialization, and create employment opportunities.
He announced that a special package would be introduced to support textile and sports industries, while significant reforms would also be undertaken in the agriculture sector to strengthen the provincial economy.
He expressed these views during a meeting with a delegation of the Institute of Chartered Accountants of Pakistan (ICAP) here. The meeting focused on Punjab’s economic policy, taxation system, prospects for increasing revenue generation, and proposals for Provincial Budget 2026-27.
The finance minister observed that ongoing tensions in the Middle East have adversely affected both the regional and global economies. In this context, he noted that preparing a balanced and people-centric budget under the prevailing circumstances is a major challenge. Nevertheless, the Punjab government remains committed to presenting a budget that maintains a balance between development requirements and fiscal discipline while taking into account prevailing economic realities.
Provincial Minister stated that government is gradually improving the tax system to enhance province’s own-source revenues. He said, the performance of the Punjab Revenue Authority (PRA) in revenue collection has been satisfactory and that strengthening the institution’s capacity would further improve its performance.
He further announced that PRA’s own software system would be introduced to address issues such as input adjustment, thereby promoting greater transparency, efficiency, and ease within the tax regime.
The Finance Minister emphasized that the professional expertise and support of the Institute of Chartered Accountants of Pakistan would help expand and strengthen the operational capacity of the Punjab Revenue Authority. He also announced that ICAP would be given representation in the upcoming Resource Mobilization Committee so that the government could benefit from the institution’s professional expertise in revenue enhancement and fiscal reforms.
He stated that proposals submitted by ICAP for the Provincial Budget 2026-27 would be thoroughly reviewed and that all practical recommendations would be considered for incorporation into the provincial budget and tax policy framework.
