Last Updated on: 7th July 2023, 09:30 am
Budget 2023-24: Punjab Govt Approves Increment in Pensions And Wages
The Punjab caretaker government announced in the budget an increase in salaries and pensions for public employees. In a press conference, Punjab Information Minister Amir Mir revealed that it had been decided to increase civil servants’ salaries by 30% in the budget.
Pensions will also have an additional 5% increase, and people over the age of 80 will see a 20% increase in their pension. Mir clarified that the budget does not contain new taxes. The health and education budget has increased by 31% and the development budget of the province will total Rs 325,000 crore.
Immediately after taking office, the acting Chief Minister, he said, decided to repay a loan of Rs 600,000 crore. The government wants to repay this loan within the next four months because otherwise, it would have reached Rs 1.1 trillion by the end of the year.
The minister also mentioned that the budget established a Rs 1,000 crore endowment fund for journalists.
Also Read: Finance Minister Ishaq Dar Presents Budget 2023-24 Pakistan