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February 28, 2024 5:40 am

Harpal Cheema debunks rumours of cash crisis in Govt, releases more than Rs 3400 crore payments

The Fact News Service

Chandigarh, September 7

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 treasury has released more than Rs. 3,400 Crore.

 In a statement issued here, the Punjab Finance Minister said that payments including salaries of Punjab Government employees were delayed as the State was gearing up for revival of 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, Harpal Singh Cheema said that 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 rumors regarding any financial crunch or crisis at State’s end, Cheema stated that 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.

Reiterating Chief Minister 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.

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