I am sharing the latest News Updates on Pay and Pension Increase in Budget 2023-24. There are chances of Announcement of Big Public Relief before Election 2023 in the coming Budget 2023-2024. The details are as under:
latest News Updates of Pay and Pension Increase in Budget 2023-24
The government is going to conduct Election very soon. The Ministry of Finance is also ready to present Annual Budget 2023-2024 in the first week or second week of June 2023. As expected government plans to give a big relief in the coming budget. For this purpose, all government employees are demanding to increase in their salaries but also an increase in conveyance allowance (CA), House Rent Allowance (HRA), and medical allowance. There are proposals for 50% raise in salary, a 30% pension, and a minimum of 40,000/- for monthly wage rates.
But now the government may provide big relief before conducting the Elections. The Ministry of Finance is also doing work on a rough summary of the Budget for 2023-2024. It is expected to have Public Friendly Budget with a lot of relief.
Big Relief of Increase of Labourer Pay up to 40,000/- Reducing Petrol Prices in Budget
Before Conducting Elections Government plans to announce the relief by reducing petrol prices and increasing the Laborers’ salaries up to 40,000. This will financially assist all kinds of masses. The laborers are expecting a big enhancement in monthly wage rates for them.
50% Increase in Salaries of Government Employees and 30% Increase In Pensions of Retired Employees
In order to reduce the pressure of Inflation government of Pakistan is going to provide big relief to the regular government employees by increasing their salaries up to 50%. Not only current working employees will get benefits from this relief all retired government employees will also get benefits also as the government is going to make an increase of 30% in their pensions.
Final Decision About Great Relief Before Election
The Prime Minister of Pakistan will make a final decision about giving relief to all regular government employees and pensioners. The decision will be made after discussion with all united political parties. Finance Minister will make the Budget keeping in view all opinions of political parties and risks of IMF.
All united political Parties forward their suggestion to make an increase of 50% in government employees and a 30% increase in pensions. They also suggested increasing laborer salaries up to 40,000.
