Punjab cabinet approves quarterly budget: Rs 170b earmarked for salaries

LAHORE: Punjab’s caretaker cabinet on Monday gave its nod to the budget for the next four months of the ongoing financial year (FY), 2023-24, with a total outlay of Rs2072 billion.

The cabinet meeting held in Lahore under the chair of Chief Minister Syed Mohsin Raza Naqvi, also approved Rs1l,718 billion for non-development expenditure and Rs355 billion for development budget. The non-development expenditure with cover administrative, routine and operational expenses.

Rs355 billion were spared for development budget in light of 4,900 uplift schemes proposed by the Punjab Planning and Development Board.

Development schemes worth Rs33 billion will be completed on time with the help of foreign funding.

Rs170 billion were allocated for salaries of government employees while Rs130 billion were given for pensions.

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Similarly, Rs208 billion have been allocated for the health sector; Rs220 billion for the education sector, and Rs63 billion for the police department.

According to sources, the non-allocated 40,000 posts from Grade1-4 will not be operational anymore.

It is important to note that Punjab government had commitment with International Monetary Fund (IMF) on the behalf of federal government that they will save Rs336 billion annually for which Rs112 billion will be saved by removing these posts.