The first substantial Punjabi dictionary was compiled by missionaries at Ludhiana in the nineteenth century, for the purpose of translating the Bible.
Bhai Kahn Singh Nabha's Mahan Kosh, 1930, is the great work: an encyclopaedia of Sikh literature, history, music and terminology in four volumes, compiled over fourteen years, and still the standard reference.
Punjabi University Patiala produced the multi-volume Punjabi-English dictionary and a series of technical glossaries intended to make Punjabi usable for science and administration.
Those glossaries were the practical part of the university's founding mandate and they are largely unused, because the administration and the sciences did not switch.
On the Pakistani side, dictionary work in Shahmukhi Punjabi has been done by individuals and small institutions with almost no state support.
No single dictionary covers the whole language across both scripts and both countries, which is an achievable project that nobody has undertaken.
Bhai Kahn Singh Nabha was in the service of the Nabha state and also wrote Ham Hindu Nahin, the book that put the Sikh case as a separate tradition during the Singh Sabha argument. The same man produced the polemic and the reference work, and only one of the two is still read.
A dictionary needs a corpus and Punjabi has never had one. There is no comprehensive machine readable body of Punjabi text across both scripts against which a compiler could check how a word is actually used, so the entries rest on whatever the compiler happened to have read.
There is no historical dictionary of Punjabi on the model of the large European dictionaries, which would show when a word entered the language and how its sense moved.