Currently, the upper limit for non-taxable annual earnings is Rs600,000
Moves are planned with a focus on those falling in low-income groups, who have seen an alarming reduction in their purchasing powerISLAMABAD – There is some good news amid the crushing effects of persistent inflation, as the government is expected to go 10 per cent to 15 per cent wage hike in the next fiscal year budget, which is to be presented today – a move that may not cause much jubilation due to the alarming reduction in purchasing power thanks to the rupee devaluation .
Earlier, it has been reported earlier that federal government is mulling over different proposals for pay raise of civil servants – a move which increases the expenditure amid the prevailing financial crunch but is necessary to mitigate the effects of inflation, which has reduced people’s purchasing power drastically.
Initially, the 2024-25 budget was to be tabled in the National Assembly on June 8, but the plan was postponed due to Prime Minister Shehbaz Sharif’s five-day visit to China.Meanwhile, the delay also means that the budget is being presented after the central bank’s Monetary Policy Committee slashed the interest rates by 1.5pc to 20.5pc from a record high 22pc level.
The proposed monthly increase under this head for BPS-21 is from Rs75,000 to Rs110,000 and Rs95,000 to Rs155,000 for BPS-22.
Salaried Class Wage Hike Rupee Devaluation Civil Servants Pakistan Pakistan Annual Inflation CPI Shehbaz Sharif CPEC Chinese Investment
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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