Punjab budget proposes 20pc salary raise, 15pc pension increase

LAHORE: The Punjab Finance Department has proposed a 20 per cent increase in the salaries of government employees in the upcoming budget for the financial year 2024-25.

This increase, intended for ad hoc relief, does not affect the basic salaries of government workers. Additionally, a 15 per cent rise in pensions has been suggested.

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According to media reports, the Punjab Budget 2024-25 will be presented on June 12. The Finance Department has already sent the budget summary to the law department.

The total budget for the next financial year is projected to be Rs 53.9 trillion. Punjab is expected to receive Rs 3,700 billion from the federal government, with a tax collection target of Rs 1,027 billion set for income generation.

In the proposed budget, Rs 597 billion has been allocated for salaries and Rs 447 billion for pensions. Development projects are earmarked at Rs 800 billion, while Rs 30 billion is set aside for the Ramadan Package and Rs 8 billion for the central business district (CBD). The education and health sectors are to receive Rs 600 billion and Rs 406 billion, respectively.

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Additionally, Rs 9.8 billion has been recommended for the chief minister’s Roshan Gharana Programme. The provincial government estimates Rs 841 billion will be spent on service delivery in the next fiscal year. Proposals also include Rs 7 billion for the Apna Ghar programme and Rs 40 billion for the Green Pakistan Initiative. – INP