Key Points

He said that these funds were created for a single purpose -- urban infrastructure development -- and not to fill the fiscal gaps of a cash-strapped government.

Citing a media report, LoP Bajwa highlighted that the Punjab Cabinet has amended the Punjab Town Improvement Act, 1922, by inserting Clause 69-B, which now permits a portion of revenues from Improvement Trusts to be diverted into a Municipal Development Fund.

"This is nothing less than a betrayal of public trust," he said.

"Improvement Trusts were set up with a clear mandate: to undertake urban development projects funded by the sale of properties. These funds are not meant to bail out the government's routine expenditures."

Accusing the Bhagwant Mann-led AAP government of running Punjab into financial distress, LoP Bajwa said the state is "staring at bankruptcy" due to AAP's mismanagement.

"This diversion of funds exposes the government's desperation. Punjab's debt is already spiraling and is projected to cross Rs 5 lakh crore by 2027," he said in a statement.

He also questioned the handling of resources already allocated in the state budget for local bodies.

"Where has that money disappeared? Why raid the Improvement Trusts when budgetary provisions already exist?" LoP Bajwa asked.

Calling this step part of a larger pattern, the LoP reminded that the state government has repeatedly diverted hundreds of crores from different departments just to stay afloat.

Slamming AAP National Convener Arvind Kejriwal, LoP Bajwa said, "Mr Kejriwal parades himself as a financial expert because of his past as an Income Tax officer. He promised to generate Rs 34,000 crore annually by curbing corruption and another Rs 20,000 crore from mining. Every single promise has collapsed. His so-called financial expertise now stands completely exposed."

- IANS