Chandigarh 7 Sep : Punjab Finance Minister Harpal Singh Cheema, on Wednesday, said that the financial health of the state is good .The Treasury has released more than three hundred crores of rupees to clear the last month’s salary of state employees.In an announcement the minister explained that all payments, including salary of employees, were being delayed as the state was preparing to restart of the Special Drawing Facility (SDF) in accordance with the CSF/GRF guidelines and norms of the Reserve Bank of India.
Cheema reported that the Treasury has released Rs.2,719 crore, comprising salaries as well as GPF as well as giving out 600 crore to Punjab State Power Corporation Ltd (PSPCL) as a subsidy for power as well as Rs 75 crore for Sugarfed.
Denying rumors of a financial crisis, Cheema said that a majority of the outstanding payments have been completed with this release.
Any other pending payments will be made available within a few days.
He claimed that the this delay in payments was caused by a financial exercise that was carried out to ensure the financial security of the government in the long term.
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