ISLAMABAD: The federal cabinet has approved the proposal of a 25 percent increase in salaries of federal government employees and a 15 percent pension increase in the upcoming federal budget 2024-25.
Earlier, Prime Minister Shehbaz Sharif gave a nod to the annual budget for the fiscal year 2024-25 which includes a comprehensive package for farmers, youth, and industries.
According to budget 2024-25 proposals, Pakistan has planned to get tax from real estate sector in three slabs.
Filer buying property worth Rs50 mln will have to pay 3 pc tax, as per sources, while non-filer will pay 6 pc tax, the sources said.
Property worth Rs50 to 100 mln will be slapped 4 pc tax for filers and 12pc for non-filers.
In third slab, non-filer buying or selling property wroth over Rs100 mln will be slapped with 5pc tax, while the non-filer will pay 15pc tax.
Sources privy to the development said, the budget proposals with a total volume of over 18 trillion rupees, have been approved. The budget includes significant allocations for various sectors and initiatives aimed at stimulating economic growth and supporting key segments of the population.
*Recent Development, More to Follow
