The federal government is set to present the fiscal year 2024-25 budget on June 12.
Inside sources report that the budget may include salary increases for public sector employees, with proposed raises ranging from 10% to 15%.
The Ministry of Finance is specifically pushing for a 10% salary increase. Concurrently, a proposal is being considered to enhance monetization benefits for senior officers in grades 20 to 22 by 20 to 25% in response to inflationary pressures. Presently, monthly monetization for grade 20 officers is Rs67,000, while grade 21 and 22 officers receive Rs77,000 and Rs87,000, respectively.
Additionally, the Pakistan Economic Survey for 2023-24 is slated for release on June 11, following a council meeting scheduled for June 10. The budget is expected to receive Senate approval by June 26.
In alignment with IMF recommendations, the upcoming budget will likely eliminate certain tax exemptions, specifically in sales and income taxes. Furthermore, the government is considering imposing a new sales tax on tractors and pesticides, which may increase prices for these essential agricultural products.
