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Pensions hiked by 15% for FY25

Pension expenditure to jump 23.5% in FY25
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June 12, 2023 (MLN): The Federal government has proposed a 15% increase in the pension of retired employees in the FY25 budget, Finance Minister Muhammad Aurangzeb disclosed during the budget conference today.

Due to inflation, the population’s purchasing power has been extremely affected, especially the salaried class individuals.

Considering these difficulties for government employees, the government has announced major relief measures for them.

In order to improve the purchasing power of the employees of grades 1 to 16, their salaries will be increased by 25%.

Moreover, the salaries of officers from 17 to 22 grades are being increased by 20%.

Similarly, it is proposed to increase the minimum monthly salary from 32,000 rupees to 37,000 rupees.

An important point to highlight here is that these figures were revealed by the Finance Minister during his budget speech.

However, earlier, the budget document showed slightly different figures, indicating that the pension is proposed to be raised by 22%, while the minimum salary is to be hiked to Rs 36,000.

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Posted on: 2024-06-12T20:44:52+05:00