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Today News: How Much Salary Increase in Budget 2024 25

Today Great News is about Salary Increase in Budget 2024 25 the budget has brought positive news for federal government employees in Pakistan, especially those in Khyber Pakhtunkhwa. The announcement of salary and pension increases has been warmly received. Let’s look at the details of these changes and what they mean for government employees.

Finance Minister Muhammad Aurangzeb announced on Wednesday an increase in salaries and pensions for government employees in the budget 2024-25.

Key Points:

  • Minimum Wage: Raised to Rs 37,000.
  • Salary Increases:
    • Grades 1-16: 25% increase.
    • Grades 17-22: 20% increase.
  • Pension Increase: 15% increase for government employees.

Earlier, the federal government had approved up to a 25% increase in salaries just minutes before the budget was presented in the assembly.

This move is considered a significant step by the government to address the financial concerns of its employees and pensioners, especially given the rising cost of living in the country.

Key Highlights of Salary and Pension Increases

  • Salary Increase: Federal government employees from Grades 1-16 will get a 25% raise.
  • Ad-hoc Basis Increase: Employees from Grades 17-22 will receive a 20% raise on an ad-hoc basis.
  • Pension Increase: Pensions for federal government employees will go up by 15%.
  • Minimum Wage: The minimum wage for laborers has increased from Rs 32,000 to Rs 36,000 per month.

Detailed Breakdown of Salary Increase in Budget 2024 25

The finance minister, Muhammad Aurangzeb, proposed these changes to help employees deal with rising prices. Here’s a closer look:

  • Grades 1-16: 25% salary increase in Budget.
  • Grades 17-22: 20% salary increase on an ad-hoc basis.
Employee GradeSalary Increase (%)Basis
Grade 1-1625%Ad-hoc
Grade 17-2220%Ad-hoc

Pension Fund Creation

The government also announced the creation of a pension fund, which has been welcomed by federal employees. This fund aims to provide more financial security for retirees.

Employees’ Reactions

Federal government employees, such as Khurshid Alam, Jalal Khan, Waris Khan, and Sajid Ali, expressed their happiness with the new budget. They appreciated the government’s efforts to ease their financial difficulties in the current economic climate.

What is new about Salary Increase in Budget

Laborers’ Response

Laborers were also pleased with the increase in the minimum wage. The raise from Rs 32,000 to Rs 36,000 per month will help them better manage their living expenses.

Conclusion

The budget 2024-25 has provided significant financial relief to federal government employees and laborers in Pakistan. The increases in salaries and pensions, along with the creation of a pension fund, show the government’s commitment to addressing economic challenges. The rise in the minimum wage also demonstrates efforts to improve the living standards of laborers across the country.

Fahad Ali

"Meet Fahad Ali, founder of Top Trend PK, a leading online platform for government schemes, current affairs, and local news. With 8 years of experience in content writing, Fahad has established himself as a trusted voice in the industry. Fahad's expertise lies in government initiatives like Ehsaas Program and BISP Program. He stays up-to-date with the latest developments in current affairs and local news, ensuring his readers are well-informed. Follow Fahad Ali on Top Trend PK for expert insights and analysis on government schemes, current affairs, and local news. Fahad's passion for writing and commitment to quality have earned him a reputation as a go-to source for authoritative content."

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