Budget 2024-25
ISLAMABAD: As the federal government prepares to unveil the budget for the fiscal year 2024-25 on June 12, reports suggest that public sector employees may see a boost in their salaries.
Sources indicate that various proposals are being considered, with salary increases ranging from 10 to 15%.
The Ministry of Finance is reportedly advocating for a moderate 10% raise in salaries for government employees.
However, another proposal is under consideration, specifically targeting higher-grade officers in grades 20, 21, and 22.
This proposal suggests increasing monetization for these officers by 20 to 25%, addressing concerns about inflationary pressures.
Currently, officers in grades 20, 21, and 22 receive monetization for vehicles in the range of Rs67,000 to Rs87,000 per month. The potential adjustment aims to align with prevailing economic conditions.
Originally slated for June 10, the presentation of the budget 2024-25 has been rescheduled for June 12.
Preceding the budget presentation, the Pakistan Economic Survey 2023-24 is set to be unveiled on June 11 following a council meeting on June 10.
Once presented, the federal budget is expected to undergo approval proceedings in the Senate, with a target completion date of June 26.
Notably, the government is poised to address IMF demands by potentially ending tax exemptions, particularly in sales and income taxes, in a phased manner.
Additionally, the budget proposals for FY 2024-25 indicate a potential end to exemptions on sales and income taxes.
Furthermore, there is contemplation regarding the imposition of sales tax on essential agricultural inputs such as tractors and pesticides, which could lead to price adjustments in these sectors.
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