ISLAMABAD – The federal government is expected to increase the salaries of its employees by 30 percent in the wake of adhoc allowance while 20% increase is likely to be made in pensions of retired employees.
Reports said that the finance ministry has prepared three recommendations regarding increase in salaries and pensions of the government employees as federal budget for fiscal year 2023-24 will be unveiled tomorrow (June 9).
As per the first recommendation, the ministry has proposed 100% increase in wake medical and convince allowance besides increasing the salary by 10%. It has also recommended 100% increase in the medical allowance and 10% increase in salaries of retired employees.
Reports said there would be no additional burden on the government if this suggestion is approved.
The second recommendation has proposed 25% increase in salaries of all employees from Grade1 to 22 and 15% increase in pensions.
According to the third recommendation, 30% increase would be made in salaries of employees from grade1 to 16 while officers of grade 17 and above would get 20% increase. It has proposed 50% increase in medical and convince allowance. It has also proposed 20% increase in pensions.
All the three recommendations will be laid forth in the cabinet meeting for final decision.
KARACHI – The Pakistani rupee continued its positive trajectory against the US dollar in the interbank market on Thursday with the local currency’s recovery relating to crackdown launched against hoarders and outflows of the foreign currency through unlawful means.
During the intraday trading, PKR moved up against the USD, and hovered at 287.73, with an increase of Rs1.04, in the interbank market.
Yesterday, the Pakistani rupee appreciated 0.36pc to settle at 288.75.
Last week, the government said a crackdown to prevent cross-border smuggling was initiated across Pakistan. The country’s central bank also stepped up supervision of the foreign exchange market, ordering banks to set up separate entities to conduct forex transactions.
The SBP also introduced structural reforms in the exchange companies’ sector to provide better services and to ensure a transparent system.
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 202,600 on Thursday.
The price of 10 grams of 24k gold was recorded at Rs 177,700. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 202,600||PKR 2,495|
|Karachi||PKR 202,600||PKR 2,495|
|Islamabad||PKR 202,600||PKR 2,495|
|Peshawar||PKR 202,600||PKR 2,495|
|Quetta||PKR 202,600||PKR 2,495|
|Sialkot||PKR 202,600||PKR 2,495|
|Attock||PKR 202,600||PKR 2,495|
|Gujranwala||PKR 202,600||PKR 2,495|
|Jehlum||PKR 202,600||PKR 2,495|
|Multan||PKR 202,600||PKR 2,495|
|Bahawalpur||PKR 202,600||PKR 2,495|
|Gujrat||PKR 202,600||PKR 2,495|
|Nawabshah||PKR 202,600||PKR 2,495|
|Chakwal||PKR 202,600||PKR 2,495|
|Hyderabad||PKR 202,600||PKR 2,495|
|Nowshehra||PKR 202,600||PKR 2,495|
|Sargodha||PKR 202,600||PKR 2,495|
|Faisalabad||PKR 202,600||PKR 2,495|
|Mirpur||PKR 202,600||PKR 2,495|