Punjab increases Education budget by 30 percent
Punjab increases Education budget by 30 percent, allocates Rs 195 billion for four months

Punjab increases Education budget by 30 percent

The caretaker Government of Punjab has allocated Rs 195 billion for the education sector with an increase of 30 percent in the budget 2023.

The budget was announced on Monday by the Caretaker cabinet under the supervision of Caretaker Chief Minister Mohsin Naqvi. Education Minister Mansoor Qadir, Information Minister Amir Mir, Commerce Minister SM Tanveer, Minister for Local Government Ibrahim Hassan Murad and Sports Minister Wahab Riaz were present on occasion.

According to the budget statement, Rs 195 billion has been allocated for education for four months of the budget which is a 30 percent increase from the budget allocation in 2022-23.

However, the caretaker government also announced the elimination of all taxes and duties on IT-related business and education to push the growth in both sectors. The decision of the caretaker government is aimed at providing a suitable environment to help the growing IT and Education sector.

Furthermore, the government has also announced plans to set up Information Technology Park and Knowledge Park to support both sectors.

It is pertinent to mention here that in previous budgets, amounts were allocated for establishing IT and Knowledge Parks by previous governments but practically there was very little work done on both projects.

The cabinet also approved a 30 percent increase in salaries of the government employees and the raise would be given under the head of ad hoc relief. Pensioners above 80 years would get a 20 percent increase in their pensions.

Related: Sindh decreases education budget by Rs 14.554 billion for 2023-24

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