Introduction
The Punjab Budget Speech for the year 2023 has been announced, and it comes with significant implications for both pensioners and government employees. The Government of Punjab, Pakistan, has unveiled its commitment to enhancing the welfare of pensioners and public servants through a considerable increase in pensions and salaries.
Pension Increase of 5%
One of the key highlights of the 2023 Punjab Budget is the announcement of a 5% increase in pensions for retired individuals. With the rising costs of healthcare, utility bills, and other essential expenses, the enhanced pension will undoubtedly alleviate some financial burdens for retired individuals.
Salary Increase of 30% for Government Employees
Another major announcement in the Punjab Budget is the substantial salary increase of 30% for government employees.
Economic and Social Implications
The 5% increase in pensions and 30% salary hike will have several economic and social implications for the province of Punjab.
Punjab Budget Speech has presented in the assembly on 14th June Monday. So, the Punjab government has announced salary and pension increases for employees.
However, the federal budget has updated here on 11th June Friday. Therefore, there are PTI governments in the federal and Punjab province. So, there is a similarity in the budget of both Punjab and the federal government.
Punjab Budget Speech Pension 5% & Salary Increase 30%
In addition, Hashim Jawan Bukht Finance minister has announced a 10% salary for govt employees. Similarly, he has said that retired employees will get a 10 percent pension.
In other words, the Punjab govt has followed the capital of Pakistan. Therefore, there is a 10% salary increase in both areas.
In the Punjab budget speech, there is no. 38 for govt employees. It has been written there that We are aware of the plight of government employees. Therefore, we have increased salaries and pensions this time. As you know that the govt has not increased last time in the budget 2020.
Related Links:
- Pay Chart 2021-2022 After 10% Salary Increase in Budget
- Budget Speech Urdu 2021-2022 Pay & Pension Increase 10%
At that time the government was in trouble financially. So, we could not work on salaries at that time.
Salary and Pension:
- The employees of Punjab will get a 10% salary on running basic pay as Adhoc Relief Allowance ARA-2021.
- Another Special Allowance 2021 @ 25% will also be given to 7 Lac 21 thousand employees of Punjab. This Special allowance for Punjab employees will be on the initial basic pay scale of 2017.
- 10% pension has increased for retired employees.
At last, our team is working on a new salary calculator for employees. We will update soon on this website. Keep visiting these pages. This new calculator will calculate the exact salary increase for all employees.
We work on MS Excel sheets for this calculator. I have uploaded here many calculations like that. If you need then search and download them.
Budget Speech 2021 pdf:
The budget speech you may download is full in pdf format. One page for government employees only.
Download Full Budget Speech 2021 pdf
Conclusion
The Punjab Budget Speech for 2023 has brought good news for pensioners and government employees alike.
.png)
