LAHORE: The Punjab Assembly has approved the manyfold increase in the monthly salaries of MPAs, provincial ministers, speaker, deputy speaker, parliamentary secretaries and other officials, ARY News reported on Monday.

The 19th session of the Punjab Assembly was held under the chairmanship of Speaker Malik Muhammad Ahmed Khan.

Minister for Parliamentary Affairs Mujtaba Shujaur Rehman tabled the bill to increase the salaries of members of the assembly.

Opposition leader Malik Ahmad Khan Bhachar raised some nominal objections before the House passed the bill with a majority vote.

The monthly salary of a member of the provincial assembly (MPA) has been increased by 426 percent to Rs4,00000 from the previous Rs76,000.

Similarly, the salary of a provincial minister surged by 860 percent, reaching Rs9,60,000 from the previous amount of Rs1,00000.

Also, the salary of the speaker assembly was hiked from Rs1,25000 to Rs9,50,000, while the deputy speaker’s salary rose from Rs1,20,000 to Rs7,75,000.

Read More: Punjab Assembly approves Rs5.4tr budget for FY 2024-25

The pay of a parliamentary secretary increased from Rs83,000 to Rs4,51,000, while a special assistant received an increment from Rs1,00000 to Rs 6,65,000, and advisor secured a pay hike from Rs1,00000 to Rs6,65000.

Earlier in June, the Punjab Assembly had approved Rs5.4 trillion budget for the Fiscal Year (FY) 2024-25 by a majority vote, that saw taxes that had been in place for 70 years have been updated.

According to the Finance Bill passed by the Punjab Assembly commercial properties will incur a 0.07 per cent tax on their total value.

Properties valued between Rs10 million and Rs25 million will be taxed at 0.08pc, while those over Rs25 million will face a 0.09pc tax.

The registration fee for motorcycles and scooters is set at Rs1,500, with an additional 10pc annual fee for registration transfer within 10 years. Vehicles up to 1000cc will have a registration fee of Rs20,000, with a similar 10pc annual transfer fee. Vehicles between 1000cc and 2000cc will be taxed at 0.02pc of the purchase price, and those over 2000cc at 0.03pc.