ISLAMABAD: The federal government is likely to announce an increase of 10 to 15 percent in salaries of its employees in the Budget 2024-25.
Reports said the pensions of the retired federal government employees would be increased by 10% in the upcoming budget.
The proposal to increase the funds under the Employees Old-Age Benefits Institution (EOBI) is also under consideration. Additionally, there is a possibility of introducing pension reforms to reduce the burden on the national treasury.
The federal government is deliberating on proposals to increase salaries of employees, taking into account IMF conditions, inflation, and other factors in the upcoming budget for the next fiscal year.
The federal government is likely to present a budget of Rs17 trillion on June 7.
There is a possibility that the federal budget for the fiscal year 2024-25, totaling more than 17 trillion rupees, will be presented in Parliament on June 7th. Approval will be sought in a special meeting of the federal cabinet scheduled before presenting the budget in Parliament.
The Ministry of Finance has stated that preparations for the federal budget of the upcoming fiscal year are underway, and consultations regarding budgeting are ongoing in light of Pakistan’s recent IMF program review mission.
