Islamabad – A breath of relief for government employees with large increases in wages that could influence their lives and families as the government is taking measures to pass on comfort in Budget 2024-25. Pakistan’s federal cabinet has authorized 25pc compensation rise for public sector personnel.
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Pay Increase for Government Workers:
Employees in Grades 1 through 16 are subject to the 25% increment. Furthermore, employees in Grades 17 through 22 will receive a 22% rise, approved by the government.
In the Budget 2024–2025, pensioners will also receive a 15 percent increase.
Budget2024–25:
The coalition government is getting ready to unveil its first budget for the fiscal year 2024–25. There have been rumors of tax increases as Pakistan looks to the IMF for another loan package.
Finance Minister Muhammad Aurangzeb will present the budget, which has a total outlay of Rs. 18 trillion, in the National Assembly.
The budget prioritizes addressing economic challenges by easing the hardships of the populace, modernizing agriculture, promoting IT, increasing exports, fostering industrial growth, and fortifying businesses.
The government intends to set a revenue collection target of more than Rs. 12 trillion for the fiscal year 2024–25.