There are a lot of principles in one's life that make us a better, decent person and citizen. Though you may not be awarded but the habit of punctuality will always be recognized at your place of work and at social gatherings.
The English ruled us for hundreds of years, and were known for their punctuality. They left us with many legacies, including the English language, a sense of being fair (which is debatable), and the discipline of being on time when meeting people. Unfortunately, till today, decades after the British left us, we don't take being on time seriously in our day to day life.
We learn such good principles and manners from our parents, and then we implement it in our daily life. Thus, it’s utmost important for parents to teach their children punctuality and good principles right from their childhood in case they want to make their children good citizens of the country. Later at school, it is again the teachers who teach good manners and responsible inter-personal behavior.
I still remember the year 1975 when I had to go for a minor surgery but left the clinic since the surgeon didn’t come down from his residence at the appointed time. I noted on a visiting card a delay of 10 minutes, and thanked him before leaving the nursing home.
However, we can always cultivate good principles at any age and stage but at times it becomes a bit difficult to mould oneself when you are getting older.