Govt employees likely to get salary raise in Budget 2024-25

ISLAMABAD: The federal government is anticipated to announce a salary increase of 10 to 15 per cent for public sector employees in the upcoming 2024-25 fiscal year budget.

Additionally, pensions for retired employees are expected to see a rise of up to 10 per cent.

According to Express News, proposals to increase the Employees Old-Age Benefits Institution (EOBI) benefits are also under consideration. Furthermore, the government is likely to introduce pension reforms aimed at reducing the burden on the national treasury.

Sources indicate that the federal government is reviewing these salary increase proposals while considering IMF conditions, inflation, and other relevant factors. Consultations with provincial governments are ongoing to finalise the details.

It is expected that the announcement of a 10 to 15 per cent salary increase for public sector employees will be included in the 2024-25 budget. However, a final decision will be made after the Ministry of Finance reviews all recommendations. If approved, the salary increase will take effect from July 2024.

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