JALANDHAR: The Punjab Government has ordered the treasuries to stop all payments in order 10 tide over the current acute financial crisis facing the state.
A government circular received by the treasures stated that no payments except salaries and pensions be made till further orders. All other departments had also stopped making payments.
The order to stop payments would badly affect the ongoing development works.
‘The financial position of the state government is deteriorating due to the overspending by various departments and corporations and boards. There is already a shortfall of Rs 320 crore of resources for the current year’s Annual Plan of Rs 1,250 crore. The failure of the state to mobilize Rs 100 crore from the planned resources, which has put the current year’s plan at Rs 930 crore, has added to the financial crisis.
Article extracted from this publication >> December 24, 1993
