ISLAMABAD: The federal government will present the budget for the fiscal year 2024-25 today (Wednesday).
Read More: Cabinet approves 25% increase in salaries, 15% in pension; Details inside
Sources said the government is working on different proposals for salary increases of 10 to 15% for public sector employees in the upcoming budget FY 2024-25.
According to sources, the Ministry of Finance wants to raise the salary by just 10%.
There is another proposal under consideration to jack up monetization for higher grade officers of grades 20, 21, and 22 in the range of 20 to 25%.
The grade 20 officers have been getting monetization of cars in the range of Rs67,000 per month, grade 21 officers in the range of Rs77,000 per month, and grade 22 officers of Rs87,000 per month.
Now it is being considered that it might be jacked keeping in view inflationary pressures.
The budget 2024-25 which was earlier scheduled to be presented on June 8 is now to be presented today (June 12).
According to the latest reports, the government intends to reduce the burden on low-income groups.
The shift means that more salaried individuals in lower income levels may be eligible for income exemption. However, there is speculation that the government may change tax rates for individuals in higher income groups proportionately.
The debate over wage rises for federal personnel has continued, despite the additional financial strain it places on the current economic situation. This project is regarded vital to mitigate the negative consequences of inflation, which has drastically reduced people’s purchasing power.
