First time in four months of fiscal year 2023-2024, Punjab Interim government led by Chief Minister Mohsin Naqvi approved 30% hike in government employees salaries as the provincial budget is also approved.
The raise in salaries would be given under the head of ad hoc relief and pensioners above 80 years would got 20% increase in their pensions.
Read more | 50% Increase in Salary in Budget 2023-24
The decision of increasing salaries and pensions had been made to withdraw all duties and taxes for promotion of business of information technology and education. Rs 70 billion had been set aside for providing relief to people in four months.
Promotion of Construction Sector
The Cabinet rejected the recommendation to increase stamp duty up to 3% but approved the fixing ratio of stamp duty to 1% promotion of construction sector. The Cabinet also allocated more than Rs 47 billion for the agriculture sector.
Read more | 16% increase in Defence Budget
The Interim government also decided to complete 50% ongoing development projects in the first four months. However, no new tax had been implemented in the Punjab budget.