New pention policy in pakistan especially in punjab and Effects on Govt Employees ? In recent years, the Government of Punjab has introduced significant reforms to its pension policies, aiming to ensure fiscal sustainability and streamline the pension process for government employees. Key Changes in Pension Policy: 1. Introduction of the Contributory Pension Fund Scheme: Effective from September 2024, the Federal Government announced the implementation of a Contributory Pension Fund Scheme for all new civil employees. Under this scheme, both the government and the employee contribute to the pension fund, marking a shift from the traditional defined benefit system to a defined contribution model. 2. Amendments to the Punjab Civil Servants Act: The Punjab Civil Servants (Amendment) Bill 2024 introduced provisions for the Defined Contribution Pension Scheme, stipulating that both the government and civil servants will contribute to individual pension accounts. 3. Cess...
Winter and Reduction in Inflation: Reasons and Facts As the winter season sets in, its impact extends beyond colder temperatures, influencing various economic factors, including inflation. The connection between winter and inflation reduction is nuanced, driven by changes in consumer behavior, energy consumption, and supply chain dynamics. Let’s delve into the reasons and facts behind this phenomenon. 1. Decline in Energy Demand Heating Costs Stabilize: In many regions, households and businesses prepare for winter by securing fixed-rate energy contracts, leading to predictable and often reduced costs during the season. Additionally, milder winters in certain areas reduce overall heating demand, easing pressure on energy prices. Oil and Gas Reserves: Countries often stockpile energy resources in advance, ensuring adequate supply. A balanced energy market during winter can mitigate sharp price spikes, contributing to stable or lower inflation rates. 2. Seasonal Change...