During the budget speech for the fiscal year 2022-23, the KP government also announced an increase in the salaries and pensions of government employees. According to details, the KP government has increased the salaries of government employees by 16%. However, the government also announced a 15% increase in pensions. In his speech in the Provincial Assembly, Finance Minister Timur Salin Jhagra revealed the increment.
According to the news a total of Rs 447.90 billion has been allocated for salaries and pensions. Of this, Rs 107 billion has been earmarked for pensions of government employees. The KPK government has also announced risk allowances for BPS-06-16 police personnel.
During his address, the provincial finance minister referred to the pensioners and said that the government was setting up a pension fund. New employees will now also join pension funds under the Contributory Pension Scheme.
The Minister explained that if a new employee has Rs. 50,000 / -, the government will deposit 10% (Rs. 5000) of his / her salary in the pension fund. He said that the money invested in the pension fund would help in boosting the economy of the province.