Business
Budget: Minimum wages raised from Rs32,000 to Rs37,000
The government in its annual budget has also announced 25 percent increase in the salaries of government employees from Grade-1 to 16 and 20 percent from Grade-17 to 22
Islamabad: Unveiling relief measures, Finance Minister Muhammad Aurangzeb on Wednesday announced 25 percent increase in the salaries of government employees from Grade-1 to 16 and 20 percent from Grade-17 to 22.
He also proposed 15 percent raise in the pension of retired government employees.
The minimum wages are being increased from 32,000 to 37,000 rupees.
The federal government introduced its first growth-oriented budget for 2024-25, with an estimated outlay exceeding Rs18,900 billion.
The cabinet approved the budget, but the National Assembly session was delayed when the Pakistan Peoples Party decided to boycott it. The budget was initially scheduled for presentation at 4 PM.
Efforts were made by the PML-N to bring the PPP on board for the budget session. Deputy Prime Minister Ishaq Dar met PPP Chairman Bilawal Bhutto Zardari to address the PPP's concerns.
Additionally, the Sunni Ittehad Council (SIC) announced its decision to boycott the budget session.
Federal Minister for Finance and Revenue Muhammad Aurangzeb will present the budget for fiscal year 2024-25 in the National Assembly.
The budget has been formulated with consideration of the current economic challenges on both domestic and international fronts.