Increase in salary and pension in Budget 2023-24 of Pakistan

 

Federal Budget 2023-2024, Financial Year 2023

The government of Pakistan is going to offer a budget for the annual 2023-2024. In this regard, the government is planning to increase the salaries of employees by 15 to 30 percent. There are many other proposals for the employees in budget 2223-24. On the other hand, pension is being increased in this budget 2023-24 of Pakistan.

The tentative date for the announcement of the budget 2023-24 of Pakistan is within the first ten days of June 2023. This has been announced by the finance department of Pakistan.

Now day’s government of Pakistan is undergoing many economic challenges and the life of common people has suffered a lot. Daily items of life have reached to sky and the purchasing power of common people has gone nowhere. These things are also under consideration and the government of Pakistan is going to do some steps for its common people in the budget 2023-24.

We know that June is the month when the government of Pakistan announced its financial budget. Last year, there was seen an increase in the salaries of employees in the provincial and federal budgets of Pakistan. This year too the government is planning to increase the salaries packages of its employees. Last year, federal minister Miftah Ismail presented a federal budget of 9.5 trillion for the financial year 2022 to 2023. There was seen an increase of I trillion in the budget 2022-23.

Each year financial budget of Pakistan is, first of all, passed by the National Assembly of Pakistan. The national assembly of Pakistan is situated in the capital of Pakistan which is Islamabad. Ishaq Dar is the federal finance minister of Pakistan nowadays. He is going to present the financial budget of Pakistan 2023 – 24. After the budget is passed in the national assembly of Pakistan then provincial budgets of assemblies will be announced. Punjab is the biggest province of Pakistan economically and population-wise. Second is the number of Sindh province then there is KPK and in the last Baluchistan.

Pakistan is also having many challenges these days like

Economic crises of Pakistan

Political unrest, Increase in prices, 

Rise in flood, 

Balance of payment crisis

excessive external borrowing etc.

 some main points of Previous Budgets

 Problems for the Government of Pakistan in Making Budget 2023:

Budget 2023-24

so far it is clearly seen that IMF is asking many questions regarding the preparation of the budget 2023-24 of Pakistan. There has been no deal done with the IMF according to the sources and it is getting difficult to manage and prepare the budget for 2023-24 Pakistan.

Pakistan budget2023-24

According to sources, the government of Pakistan has to make the budget for 2023-24 with the consent of the IMF. It was told by the sources of the finance department of Pakistan. People-friendly budgets will be difficult to prepare especially in this coming financial year. Dollar prices are getting higher and higher and export from Pakistan are also under deep pressure and almost nothing at the moment.