In a move to stimulate the growth of IT-related businesses and bolster education, the interim government of Punjab has declared the complete elimination of all taxes and duties. This momentous decision is part of the provincial budget and aims to create a favorable environment for the thriving IT sector and educational institutions.
By removing financial burdens, the government intends to incentivize investment and innovation in the technology field, while also making education more affordable for students. The abolition of taxes and duties demonstrates the government’s dedication to fostering a vibrant digital economy and promoting access to high-quality education in Punjab.
In a separate development, the caretaker Punjab government has announced an increase in the salaries and pensions of government employees as outlined in the budget. Government employees will see a significant 30% raise in their salaries, while pensions will be increased by 5%. Additionally, individuals above the age of 80 will receive a notable 20% increase in their pensions.
Overall, these measures underscore the government’s commitment to fostering economic growth, encouraging technological advancements, and prioritizing the well-being of government employees and pensioners in Punjab.
