Islamabad: Important news has come regarding the increase in the salaries of government employees in the upcoming budget.
The federal government is going to announce its first budget for the financial year 2024-25 in June amid several economic challenges.
All federal and provincial government employees eagerly await the announcement of the budget every year as their salaries are increased by the government taking into account various factors including inflation.
As the government moves to reduce inflation, it aims to bring it down to the target range of 5 to 7 percent by September 2025.
Inflation eased to 20.7 percent from 23.1 percent while core inflation dropped significantly to 15.7 percent from 18.1 percent in February.
The Monetary Policy Committee of the State Bank of Pakistan believes that the rate of inflation will continue downward. The federal and provincial governments used to announce an increase in the salaries of their employees in the budget.
In the upcoming budget 2024-25, the government is expected to announce a 10 to 12 percent increase in employee salaries. However, the final decision will be taken by the governments after reviewing the recommendations of the finance ministry. If this increase is approved, it will be effective from July 2024.
