[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]The federal government and provincial authorities in Islamabad are currently crafting the budget for the fiscal year 2024-25 amidst confronting economic challenges and pressures from the IMF.
Unconfirmed reports suggest a potential 10-12 percent salary hike for government employees in the upcoming budget, with the final decision to be made by the government, following input from the finance ministry and lending institutions.
Read more: Anticipated Raise In Pakistan Government Staffs Salaries
Should it be sanctioned, the augmented salaries would likely take effect in July 2024, providing some relief to those affected by inflation. Federal and provincial government employees are eagerly anticipating the budget announcement, as it typically signals possible adjustments to salaries and pensions.
Efforts are underway to combat inflation, with the government aiming for a targeted reduction of 5-7 percent by 2025. Encouragingly, recent data indicates progress, with headline inflation decreasing from 23.1 percent in February to 20.7 percent year-on-year in March, alongside a drop in core inflation from 18.1 percent in February to 15.7 percent in March.[/vc_column_text][/vc_column][/vc_row]
