ISLAMABAD – The federal government is poised to present the budget for the financial year 2024-25, with a total outlay of Rs17 trillion, on June 7.
Budget Approval Process
The budget draft will first be discussed in a federal meeting, where it will need to receive approval before being presented to Parliament. The Ministry of Finance is in the final stages of completing the budget draft, ensuring it aligns with the conditions set by the International Monetary Fund (IMF).
Proposed Salary and Pension Increases
One of the key highlights of the upcoming budget is the proposed increase in salaries and pensions for federal employees.
- Salaries: A proposed increase of up to 15% for federal employees.
- Pensions: A proposed increase of 10% for retired federal employees.
The final decision regarding these increases will be made by the government after considering recommendations from the Ministry of Finance. If approved, the revised salaries and pensions will take effect from July 1, 2024.
Stay tuned for more updates as the budget presentation date approaches. The federal budget 2024-25 promises significant changes aimed at improving the financial well-being of federal employees and aligning with broader economic goals.
