Budget 2024-25: What salary increases can government employees expect?

Islamabad: Sources indicate that the government is considering various proposals for salary increases ranging from 10% to 15% for public sector employees in the forthcoming 2024-25 budget.

Sources suggest that the Ministry of Finance aims to increase salaries by only 10%.

Another proposal under consideration aims to increase monetization for higher grade officers in grades 20, 21, and 22 by 20% to 25%.

Grade 20 officers currently receive car monetization of approximately Rs67,000 per month, grade 21 officers receive about Rs77,000 per month, and grade 22 officers receive around Rs87,000 per month.

Now, it is being considered that these amounts might be increased in light of inflationary pressures.

The budget for 2024-25, initially scheduled to be presented on June 10, is now likely to be unveiled on June 12.

Sources indicate that the Pakistan Economic Survey 2023-24 will be presented on June 11, following a meeting of the council on June 10.

The federal budget for 2024-25 is expected to receive Senate approval by June 26. Additionally, the Pakistani government is likely to eliminate tax exemptions in the FY2024-25 budget at the IMF’s request.

As per the budget proposals for the fiscal year 2024-25, Pakistan is poised to gradually phase out exemptions on sales and income tax.

The government is contemplating the imposition of a sales tax on tractors and pesticides, which could potentially result in price increases for these vital agricultural products.

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