Lahore – The Punjab government is adopting a proactive approach to prepare for the upcoming fiscal year by focusing on expanding provincial resources and enhancing revenue generation.
In a recent meeting of the Cabinet Committee on Resource Mobilisation, chaired by Punjab Finance Minister Mujtaba Shuja-ur-Rehman, key officials from tax and revenue departments reviewed projected financial resources and explored strategies to increase revenue collection for the fiscal year 2025–26.
During the session, the finance minister reaffirmed the government’s commitment to implementing a balanced fiscal policy that supports economic development while ensuring a fair and equitable tax system.
A major announcement from the meeting was that all taxable services in Punjab will now fall under the jurisdiction of the Punjab Revenue Authority (PRA). This strategic move aims to broaden the tax base and ensure consistent contributions from all service sectors to provincial revenue.
To simplify and promote fairness in taxation, the finance minister also revealed plans to harmonise and standardise tax rates under the PRA. Alongside increasing revenue, the government is considering tax concessions to provide relief to citizens, especially in key areas.
The committee also reviewed strategies to stimulate economic activity, including measures to attract foreign investment—particularly in agriculture, mining, and mineral sectors—identified as high-potential areas for growth and employment.
Furthermore, the efficient use of provincial assets, including government-owned properties and land, was highlighted as a key tactic to strengthen Punjab’s financial position.
The proposals presented during the meeting will be submitted to the provincial cabinet for formal approval, paving the way for Punjab’s comprehensive financial strategy for FY 2025–26.