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Harpal Cheema debunks rumours of cash crisis in Punjab, releases payments of over Rs 3400 crore

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Harpal Cheema debunks rumours of cash crisis in Punjab, releases payments of over Rs 3400 crore
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Chandigarh, September 7: The Punjab Finance Minister, Advocate Harpal Singh Cheema, on Wednesday said that under the leadership of Chief Minister Bhagwant Mann, the financial health of the state is well maintained and the treasury has released more than Rs. 3,400 Crore.



Issuing a statement on Wednesday, the Punjab Finance Minister said that payments including salaries of state government employees were delayed as the state was gearing up for the revival of the Special Drawing Facility (SDF) as per the CSF/GRF guidelines and norms by the Reserve Bank of India. Thanking the Government employees and other stakeholders for bearing with the state government, Cheema said that the treasury has released Rs. 2719 crore including salaries and GPF besides releasing Rs. 600 Crore to PSPCL as power subsidy and Rs. 75 crore to Sugarfed. Rejecting rumours regarding any financial crunch or crisis at State’s end, Cheema stated that the majority of the pending payments have been made with today’s release by the treasury and any other pending payments shall be released within a few days. He said that delay in payments was all due to a financial exercise done to ensure financial welfare of the state in long-term.

Punjab's financial crisis results in salary delays for government employees

Reiterating Bhagwant Mann’s commitment to put state back on rapid growth track, Harpal Singh Cheema said that it is an open secret that Punjab was reeling under financial mess when they gained people’s referendum in March 2022. “Now, the state government has been putting all efforts to revive the fiscal health of the state besides fulfilling the guarantees given to the people of the state”, said Cheema.

-PTC News (Report by Gagandeep Ahuja)

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