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'20pc salary increment for govt employees on the cards in Budget 2024-25'

08:40 AM | 7 Jun, 2024
'20pc salary increment for govt employees on the cards in Budget 2024-25'
Source: File Photo

ISLAMABAD – Pakistani government is expected to present Budget 2024-25 on June 12 in the National Assembly, with people closely watching updates on salary, and pension increments and new taxes.

Reports in local media suggest that Ministry of Finance unveiled initial proposals to hike salaries for government employees. There is potential salary increase of 15 to 20 percent for federal employees, while the final decision will be made by Prime Minister and cabinet members.

Pakistani government is chalking out tax reforms, salary update with cautious approach as International Monetary Fund (IMF) stressed cost reductions and pension reforms, suggesting that substantial increases in salaries and pensions may not be feasible.

The pressure from lender and masses creates challenging situation for the government, which must balance fiscal responsibility with the need to support its employees.

Salary Update in Budget 2024-25

One proposal involves raising monetization policy for bureaucrats. For officers up to grade 20, an increase from Rs 65,000 to Rs 105,000 has been proposed. For grade 21 officers, the monetization is proposed to rise from Rs 75,000 to Rs 120,000, and for grade 22 officers, from Rs 95,000 to Rs 155,000.

There are proposals for increase in medical and conveyance allowances for employees in grades 1 to 16. .

Daily Pakistan Global Web Desk

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US Dollar, Euro, Pound, Dirham, Riyal Rate in Pakistan Today Open Market Rates - 15 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 15, 2024 (Monday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.8 for buying and 280.75 for selling. Euro's buying rate moves up to 301.25 and selling rate is 303.15.

British Pound rate is 355.15 for buying, and 358.65 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal lowered to 73.65.

Currency Rates Today

Source: Forex Association of Pakistan. (last update 08:00 AM)       
Currency Symbol Buying Selling
US Dollar USD 279.8 280.75
Euro EUR 301.25 303.15
UK Pound Sterling GBP 355.15 358.65
U.A.E Dirham AED 76.5 77.25
Saudi Riyal SAR 73.65 74.37
Australian Dollar AUD 184.55 186.35
Bahrain Dinar BHD 741 749
Canadian Dollar CAD 203.75 205.75
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.33 3.43
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 309.15 311.65
Thai Bhat THB 7.5 7.65



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