ISLAMABAD – The federal government and provinces are working on budget for fiscal year 2024-25 amid facing economic challenges and pressure from IMF.
In the upcoming budget, unofficial reports hinted at 10-12 percent salary increase for government employees. The final decision will be announced by the government, in line with recommendations by finance ministry and lenders.
If approved, the increased salary will come into effect in July 2024, in what is expected to be a brother for inflation-hit people.
Budget announcement is eagerly awaited by federal and provincial government employees as it often includes potential salary and pension increases.
The government is working to curb inflation, aiming to achieve a target range of 5–7 percent drop by 2025. Recent data shows a positive trend, with headline inflation dropping from 23.1 percent in February to 20.7 percent year-on-year in March. Core inflation also decreased from 18.1 percent in February to 15.7 percent in March.
