ISLAMABAD – The budget preparation exercise for FY 2024-25 is underway as federal government and provinces are chalking out projection of revenues and expenditures.

Ahead of the budget, all eyes are on the expected salary increase in Pakistan, as Pakistanis are bearing brunt of record prices.

Reports in local media suggest a 10-12 percent salary increase for government employees in the upcoming budget, while the government’s final decision will be based on recommendations from the finance ministry.

With the rise of 10-12pc, it is expected to pass on some relief to those affected by inflation.

It was reported that incumbent government is expected to raise the pension by 10 percent. No final decision has been made without recommendations.

The increment in salary and pension, if approved, will come into effect from July 2024.

The government is looking to cut inflation, aiming for a target range of 5-7 percent by 2025. Recent data indicates a positive trend, with headline inflation dropping from 23.1 percent in February to 20.7 percent year-on-year in March, and core inflation moving down.

https://en.dailypakistan.com.pk/02-May-2024/budget-2024-expected-increase-in-govt-employees-salary-in-pakistan