The budget is likely to increase salaries and pensions by up to 15%

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The budget is likely to increase salaries and pensions by up to 15%
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The budget is likely to increase salaries and pensions by up to 15%

A proposal to increase the Employees Old Age Benefit (OBI) is also under consideration

Islamabad: In the federal budget of the next financial year 2024-25, the federal government is expecting a 10 to 15 percent increase in the salaries of government employees, while the pension of retired employees is expected to increase by 10 percent.

The proposal to increase the Employees Old Age Benefit (OBI) is also under consideration. Apart from this, pension reforms are also likely to be introduced to reduce the pension burden on the national exchequer.

According to the sources, the federal government is considering proposals to increase the salaries of the employees taking into account the IMF conditions and inflation for the next fiscal year, for which consultation is also going on with the provinces.

Sources say that in the upcoming fiscal year 2024-25 budget, the government is expected to announce a 10 to 15 percent increase in the salaries of employees. However, the final decision will be taken by the governments after reviewing the recommendations of the Finance Ministry. If approved, the increase would take effect from July 2024.

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