In the upcoming federal budget, a potential boost awaits government employees. A proposed salary increase of 10 to 12 percent is on the horizon, marking a significant development in the salary increase in Budget 2024.
The Finance Ministry’s proposal, if approved, would see the salary hike implemented by July 2024. However, the final decision rests with the government. This potential salary increase in Budget 2024 is a testament to the government’s commitment to its employees.
On May 1, Prime Minister Shehbaz Sharif hosted a luncheon in Lahore to honor laborers. Despite economic challenges, he pledged to reduce unnecessary expenses and strive for a salary increase in the budget.
The federal government is working diligently to finalize the budget objectives ahead of the IMF mission’s arrival. The economic team has been tasked with completing the budget work under the guidance of the Prime Minister’s Office.
Work on the budget strategy has commenced, with the achievement of six major targets being the primary focus. The strategy has been finalized in collaboration with IMF officials to ensure these targets are met.
The foremost priority is the timely repayment of all foreign debt. Funds obtained from bonds, banks, friendly nations, and institutions will be allocated towards reducing spending and lowering deficits, thereby preventing additional borrowing. This strategy underscores the government’s commitment to fiscal responsibility, even as it plans for the anticipated salary increase in Budget 2024.
salary increase in budget 2024
