Punjab increases govt employees’ salaries by 30% in budget 2023-24

The interim Punjab cabinet on Monday approved provincial budget for first four months of fiscal year 2023-24.

The cabinet meeting held under the chairmanship of Punjab caretaker Chief Minister Mohsin Naqvi approved 30% increase in salaries of the government employees and the raise would be given under the head of ad hoc relief.

Pensioners above 80 years would get 20% increase in their pensions.

A decision had been made to withdraw all duties and taxes for promotion of business of information technology and education. Rs70 billion had been set aside for providing relief to people in four months.

The cabinet also rejected the recommendation to increase stamp duty up to 3% and approved fixing ratio of stamp duty to 1% for promotion of construction sector.

Moreover, the cabinet also allocated more than Rs47 billion for the agriculture sector.

Read more: Rupee nosedives to all-time low of 290 against dollar amid political tumult

The interim set-up also decided to complete 50% ongoing development projects in the first four months of new fiscal year.

The provincial cabinet also earmarked Rs16 billion to make power plant functional that was closed in 2017 and green-lighted up to 31% increase in education and health budget for four months of the new fiscal year.

The cabinet granted approval to set up information technology park in Lahore Knowledge Park. The cabinet also gave approval to set up endowment fund with Rs1 billion for journalists.

Punjab Interim CM Naqvi said that no new tax had been imposed in the Punjab budget.

He appreciated the Punjab chief secretary, Planning and Development Board chairman, Punjab finance secretary and the team for presenting people-friendly budget.

The provincial ministers, advisors and secretaries of relevant departments attended the meeting.