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ISLAMABAD: The ruling Pakistan Tehreek-e-Insaaf (PTI) has announced the addition of an ad-hoc relief of 10 percent in the salaries and pensions of federal government employees.
Announcing the budget on the National Assembly (NA) floor today (Friday), Finance Minister Shaukat Tarin announced that the increase in salaries and pensions would be applicable from July 1 of this year.
Meanwhile, to minimise the inflationary pressures, especially on the labourers and workers, the government has increased the minimum wage to Rs 20,000 per month.
The government has also proposed an increase in the orderly allowance from 14,000 to Rs 17,500 per month. Apart from this, the integrated allowance of grade 1 to 5 employees was increased from Rs 450 to Rs 900.
Referring to the taxes, the finance minister announced that there was no new tax being imposed on the salaried class in the budget. “The rich will be asked to pay taxes in accordance with their wealth,” he said, adding that the salaries class will not be burdened with additional taxes.
He added that in order to support small businesses, the annual turnover tax ceiling has been increased from Rs10 million to Rs100 million, while sales tax is being reduced.