The Punjab School Education Board has no funds to pay November wages to staff.
Sources said the board had a cash reserve of only Rs 3 crore, while the monthly salary bill comprised around Rs 5 crore on account of salary and Rs 4.5 crore towards pension. The situation looks alarming as the board has already dug into its fixed deposits and pension fund.
PSEB Chairman Manohar Kant Kalohia said, “Yes, we are in a tight spot. However, we will manage to pay salaries. We will soon receive money in the form of annual examination fee, which will settle the salary bill besides the pension of retired personnel.”
A senior official, however, said, “While we may manage the situation this month, things are likely to get difficult in future. During the past few months, we have had to rely on fixed deposits and pension funds.”
Another officer said, “The board has not got its due payment of over Rs 250 crore from the Department of Social Security for a long time. Besides, we need funds for giving free books to children. We have written to the department several times, but to no avail.”
A senior board official said the government had burdened the board with extra responsibility of 18 Adarsh schools, which cost around
Rs 32 crore annually.
He said staff rationalisation was the need of the hour.
“The numbers at the top need to be slashed while manpower at the lower level should be raised,” the official emphasised.
