Salaries Pensions Increase In Budget 2024-2025 In Pakistan : On Wednesday, the federal budget was presented, including a 25 percent salary increase for government employees and a 15 percent pension increase for retired employees. On Wednesday, Finance Minister Mohammad Aurangzeb proposed a 22-25% ad-hoc salary increase and a 15% pension increase for retired government employees. The minimum wage was also raised from Rs32,000 to Rs36,000 per month.
Salaries Pensions Increase In Budget 2024-2025
If the proposed measures approved by parliament, government employees will receive their increased salaries starting in July 2024. Additionally, there are reports indicating a likely one percent increase in the sales tax rate to generate additional revenue.
While presenting the budget for the fiscal year 2024-25, the minister highlighted that despite financial constraints, the government has decided to provide a 25% salary increase for employees in Grades 1-16 and a 22% increase for those in Grades 17-22. This measure aims to enhance their purchasing power
Expected Salaries in Pakistan from July 2024
If the proposed measures approved by parliament, government employees will see their increased salaries starting in July 2024. With debt and interest payments estimated at Rs9.5 trillion. Reports also indicate a likely increase in the sales tax rate by one percent to generate additional revenue. visit our website ppscresults.com.pk
Salaries, pension increase in federal budget 2024-25
Here are the details of the pension and salary increases for government employees in the Budget 2024-25 as outlined in the budget speech:
- Employees in BPS-01 to BPS-16 will receive a 25% increase in their current basic pay.
- Employees in BPS-17 to BPS-22 will receive a 20% increase in their current basic pay.
- The minimum wage raised from Rs. 32,000 to Rs. 37,000 per month.
- Pensions will increase by 22% of the net pension.
- The salary increases for government employees, ranging from 20% to 25%, will take effect from July 1, 2024.
- The Finance Minister also announced a 15% increase in pensions, effective from July 1, 2024. . www.fbr.gov.pk.
