PESHAWAR: The Khyber Pakhtunkhwa Professional Housing Authority (PHA) on Wednesday approved an increase in stipend of work-charged employees from Rs 12,000 to 14,000. The authority in a meeting held at Office of Secretary Housing under the chairmanship of Special Assistant to Chief Minister Dr Amjad Ali also approved the allotment of plots to employees of Housing Department. The members of meeting expressed resolve to eliminate practice of giving loss to the national exchequer during investment of the authority’s funds and opened the rates offered by different banks in the meeting. Meanwhile, speaking on the occasion, DrAmjad Ali said that the purpose to investment in banks aims to protect the national exchequer from being wasted on, adding that such investment would also increase provincial revenue. He pointed out that the previous provincial governments irresponsibly used the funds of PHA thus giving huge loss to the national exchequer. The KP government believes in merit and transparency and strongly discourages unnecessary use of funds. On the occasion, Secretary Housing Dr Jamal Yousaf gave a detailed briefing to representatives of banks regarding investment of funds and assured that all the bids would be finalised in a transparent manner.