The salaries of government employees are likely to surge in the imminent budget amid inflation.
Informed sources claimed that government is seeing numerous offers for salary rises ranging from 10-15percent for public sector employees in budget 2024-25.
Ministry of Finance is inclined to recommend a 10 percent surge, and the final decision will be made in the coming days.
Salary Update Budget 2024-25
Another proposal under appraisal is to improve monetization payments for higher-grade officers (grades 20, 21, and 22) by 20pc to 25pc. As of now, grade 20 officers obtain car monetization of Rs67,000 per month, grade 21 officers receive Rs77,000 per month, and grade 22 officers receive Rs87,000 per month. These figures may be increased to address inflationary burdens.
The budget for 2024-25 was former scheduled to be held on June 10, but is now likely to be presented on June 12. Pakistan Economic Survey 2023-24 will be presented on June 11 following a council meeting on June 10.
Federal budget 2024-25 is likely to be permitted by the Senate by June 26. In response to IMF demands, the Pakistani government is probable to end tax exemptions in the FY2024-25 budget, including phased exclusions of sales and income tax exceptions.
Additionally, the government is considering imposing a sales tax on tractors and insect killer, which could lead to price increases for these vital agricultural products.
