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Punjab increases govt employees’ salaries by 25pc, pension by 15pc

Cabinet approves Punjab budget 2024-25

02:27 PM | 13 Jun, 2024
Punjab increases govt employees’ salaries by 25pc, pension by 15pc

LAHORE – The Punjab cabinet on Thursday approved Rs5.43 trillion provincial budget 2024-25, a day after federal budget was presented.

The cabinet also approved the increase in the salaries of government employees by up to 25 percent, in line with federal government announcements. The pension of retired employees also saw increase by 15 percent. The government also approved Rs1 billion for the health insurance of journalists. 

CM Maryam Nawaz signed provincial budget which is set to be presented in the Punjab Assembly today.

Key budget allocations include Rs595 billion for salaries, Rs445 billion for pensions, Rs840 billion for service delivery costs, and Rs700 billion for development. Notable allocations include Rs30 billion for the Ramazan Package and Rs8 billion for the Central Business District (CBD).'

The development budget will cover 1,863 schemes, with 1,617 ongoing and 246 new projects. Specific sector allocations include over Rs22 billion for roads, Rs2 billion for special education, Rs3.5 billion for literacy and non-formal education, Rs4.8 billion for sports and youth affairs, Rs76.5 billion for specialized healthcare, Rs33.89 billion for primary healthcare, Rs3 billion for population welfare, Rs2 billion for water supply and sanitation, Rs1.7 billion for social welfare, Rs14 billion for local government and community development, over Rs10 billion for industrial development, and Rs37.3 billion for planning and development.

No new taxes will be introduced in the 2024-25 provincial budget; instead, the focus will be on enhancing the recovery of existing taxes to boost resources. The government aims to increase revenue generation through the efficient utilization of natural resources and government assets.

Daily Pakistan Global Web Desk

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Today Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 24 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 24, 2024 (Wednesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 278.4 for buying and 280.1 for selling. Euro's buying rate remains stable at 301.35 and selling rate is 303.45.

British Pound rate is 354.5 for buying, and 358.35 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal hovered at 73.6.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 278.4  280.1 
Euro EUR 301.35 303.45
UK Pound Sterling GBP 354.5 358.35
U.A.E Dirham AED 76.5  77.25
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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