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Federal Cabinet Approves Budget Proposals: 25% Salary Hike for Grades 1-16, 22% Increase for Grades 17-22
Just in: Federal Cabinet greenlights budget proposals for FY 2024-25, featuring a 25% salary surge for employees in grades 1-16 and a 22% boost for grades 17-22. Pension also set to increase by 22%. Stay tuned for more updates.
ND
by News Desk
2024-06-12
Federal Cabinet Approves Budget Proposals: 25% Salary Hike for Grades 1-16, 22% Increase for Grades 17-22

In a significant move, the federal cabinet, under the chairmanship of Prime Minister Shehbaz Sharif, has given the nod to budget proposals for the upcoming fiscal year 2024-25. Among the key highlights are substantial increases in salaries and pensions for government employees.
The approved budget includes a remarkable 25 percent increase in salaries for employees falling in grades one to 16, aimed at improving their financial well-being and addressing inflationary pressures.
Furthermore, employees in grades 17 to 22 are set to receive a 22 percent hike in their salaries, reflecting the government's commitment to ensuring equitable compensation across different tiers of employment.
In addition to salary adjustments, the cabinet has also sanctioned a 22 percent increase in pension payments, signaling efforts to enhance the welfare of retired personnel.
The budget package encompasses various schemes targeted towards uplifting farmers, empowering youth, and bolstering industries, reflecting the government's comprehensive approach towards economic development and social welfare.
Details of all proposed schemes will be unveiled during the budget speech by the Federal Finance Minister, underscoring transparency and accountability in the budgetary process.
The approval of these budget proposals underscores the government's resolve to prioritize the well-being of its workforce and foster sustainable economic growth in the country.
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Pakistan

EconomicDevelopment

FederalBudget2024
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