Pakistan

Punjab govt to release salaries, pensions early ahead of Eid-ul-Adha

Published by

Abdul khalique

2 months ago

LAHORE: In view of Eid-ul-Adha, salaries and pensions will be paid to government employees on May 2, according to media reports.

The Punjab Finance Department has issued a notification. May salaries and pensions will be released on May 21. Advance payment has been approved in view of Eid al-Adha.

The Punjab Finance Department has issued a notification, directing all relevant institutions to ensure immediate payment, and orders have also been issued to the State Bank and commercial banks to implement it.

Government employees’ salaries and pensions likely to increase

The budget for the next fiscal year is likely to increase the salaries of government employees by 7 percent and pensions by 5 percent.

According to sources, the Ministry of Finance has started reviewing various proposals during budget preparations; however, no final decision or official announcement has been made yet regarding the salary increase.

Reports have said that the government is keen to provide some relief to the salaried class due to rising inflation, electricity and gas bills, and an increase in daily expenses.

Sources say that along with the increase in the salaries of government employees, some additional facilities are also being considered in the budget proposals, which are aimed at reducing the financial pressure on low-income employees.

Recommendations can also be sought from various departments in this regard so that feasible measures can be included in the final budget.

According to economists, if the government approves the increase in salaries and pensions, it will benefit thousands of government employees and retirees across the country; however, this decision will depend on the government’s financial capacity, revenue targets, and overall budget strategy.

Economists say that in the current situation, it is important for the government to provide relief to the public on the one hand, while on the other hand, keeping the fiscal deficit under control is also a big challenge.

Therefore, the final decision regarding the increase in salaries and pensions will be taken at the time of approval of the budget documents.

According to sources, the budget for the next fiscal year is being prepared keeping in mind public relief, economic stability, and a balance in government expenditure.

Abdul khalique