Budget 2024-24 Pakistan Date 30% Salary Increase

Budget 2024-24 Pakistan Date 30% Salary Increase latest Updates:- Tentative Date of Announcement of Budget 2024-24 Pakistan has been given by the Government of Pakistan, Finance Division. The Finance Department estimates that the Budget 2024-24 will be released some time in the first week of June. Budget 2022–2024 was due to be presented for the last time on June 10, 2022. Historically, governments have released their budgets on Fridays, and there is a good possibility that this year will follow suit. Next year’s federal spending plan is now being scheduled by the federal government. An appropriate framework for the budgeting process is made by the government. The Budget Strategy Paper and Meeting Agenda for the Review Committee are included below.

Budget 2024-24 Pakistan Announcement Date

I will explain the Federal Budget 2024-24 timetable below. The current fiscal year, 2022-2023, ends today.From March 22nd through March 31st, 2024, the Budget Review Committee will have its meetings. A Budget Strategy Paper will be drafted by the aforementioned group. In the first week of June 2024, the government will unveil its official spending plan for fiscal year 2024-24. Check New Budget Online

Demands of Federal Government Employees

Many public servants have lofty expectations for this budget. There are still numerous unmet needs from federal government workers. Workers hope to receive fair compensation and benefits in light of the high cost of living in the country. Here are the main things we need:

• Timeline for Staff Development and Upgrades Employee Advancement
• Rent Assistance Increase
• Increase in Medical Expense Deduction
• Compensation for all Department Workers Is Being Harmonized

Federal budget 2024-24 salary increase

There will be a formal presentation of the coalition government’s proposed budget to the National Assembly and subsequent transmission to the Senate of Pakistan on the day that was previously indicated. The Finance Bill 2024 and the yearly budget for FY 2024-24 are expected to be presented to the National Assembly of Pakistan in the first week of June 2024, according to official documents obtained by ProPakistani.

Budget Estimates and Revised Estimates,

According to the documents, the first budget review meeting is scheduled for the third week of March (22nd-31st), 2024. In meetings with the Principal Accounting Officers (PAOs), the Budget Review Committee will consider Budget Estimates and Revised Estimates, as well as the Divisions’ and Departments’ needs for additional funding.

National Economic Council Budget Estimates 2024-2026.

The National Economic Council (NEC) meeting will go place as planned in the first week of May. Indicative Budget Ceilings (IBC), issued by Finance Division in April 2022 for three (03) years, and performance indicators/output by the Division/Department (as given in the Performance Based Budgeting Proforma 2022-23) will be used as baseline for submission of Budget Estimates 2024-2026.

Finance Division PAO-specific Budget 2024-24

The Finance Division will establish PAO-specific current and development budget caps following the Cabinet’s ratification of the Budget Strategy Paper in April. By the end of May, after thorough deliberation, we hope to have finalized all budget documents. Budget 2024-24 will be presented by the Finance Division to the Cabinet for approval in the first week of June, followed by submission to the National Assembly and approval by the President of Pakistan.

increase in salary 30% Pakistan’s budget 2024

Salary increases of up to 30 percent are rumored to be part of the proposed budget for 2024–24. The Finance Division has previously announced the likely release date of Pakistan’s budget 2024-24: the first week of June 2024. The government may delay the announcement of the budget in light of the current political climate.

Expected salary increase in budget 2022-23 Pakistan latest news

Auto rickshaws, motorcycle rickshaws, and motorbikes up to 200cc no longer have to pay an advance tax, but double-cabin vehicles face a higher tax rate thanks to the government budget. The budget suggests lowering levies on domestically produced mobile phones.

Government workers in Pakistan are increasingly retiring early in pursuit of pension and post-retirement benefits, a trend that has gained significant traction in recent years. Sixty percent of federal retirees in 2019 received early retirement. In the federal budget for the upcoming financial year, the government proposed a fee of Rs 1 per call on telephone and mobile calls to fund education.

Budget 20222024 projected salary rise Current events in Pakistan. Salaries will be increased by 25% overall, with an increase of 10%-15% in the base wage and the remaining 10%-5% distributed in the form of ad hoc relief.

Budget 2022-23 Updates:

The International Monetary Fund (IMF) has urged the government of Pakistan to follow financial stability policies, including not increasing government employee wages in the upcoming budget and setting a nominal target for the main budget deficit. Both of FK’s requests are extremely unrealistic.