Budget 2023-24: Pensioners get massive increment – here's the details!

08:39 PM | 9 Jun, 2023
Budget 2023-24: Pensioners get massive increment – here's the details!
Source: File Photo

ISLAMABAD: The federal government of Pakistan has announced a significant rise in salary and pensions for the fiscal year 2023–2024, which is considered as a promising news for current employees and retirees.

With the current inflationary pressures, these policies are meant to help the working population and pensioners. 

Let's get into the specifics of the pension rise and how it will affect the people as a whole.

The most recent financial provisions state that Grades 1 through 16 would have an outstanding 35 percent increase in their salary as an ad-hoc allowance, while Grades 17 and above will see a sizable 30 percent increase. 

The federal cabinet has authorised this choice, demonstrating the dedication of the administration to enhancing the financial security of its workers.

Government employees pension increase in budget 2023-24

To relieve the worries of retirees who frequently struggle to manage their spending owing to rising costs, the government has also proposed a 17.5% rise in pensions in addition to pay increases. 

This action underscores the government's commitment to provide people who have devoted years of service to public institutions a dignified existence.

The minimum pension amount has been raised from Rs. 10,000 to Rs. 12,000, significantly increasing the income of pensioners.

EOBI pension

The Employees' Old-Age Benefits Institution (EOBI) pension has also increased, going from Rs. 8,500 to Rs. 10,000. 

This increase assures that workers will have enough support throughout their retirement years and recognises their efforts.

Note: Keep checking
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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on Sept 30, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 30, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 286.05 289.15
Euro EUR 307 310
UK Pound Sterling GBP 353.3 357
U.A.E Dirham AED 80 80.8
Saudi Riyal SAR 76 76.75
Australian Dollar AUD 189 191
Bahrain Dinar BHD 778.84 786.84
Canadian Dollar CAD 220 222.2
China Yuan CNY 40.24 40.64
Danish Krone DKK 41.83 42.23
Hong Kong Dollar HKD 37.93 38.28
Indian Rupee INR 3.57 3.68
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 945.27 954.27
Malaysian Ringgit MYR 62.62 63.22
New Zealand Dollar NZD 174.58 176.58
Norwegians Krone NOK 27.87 28.17
Omani Riyal OMR 762.31 770.31
Qatari Riyal ‎QAR 80.69 81.39
Singapore Dollar SGD 208 210
Swedish Korona SEK 26.62 26.92
Swiss Franc CHF 323.01 325.51
Thai Bhat THB 8.12 8.27

Gold Rate in Pakistan Today – September 30, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Saturday.

The price of 10 grams of 24k gold was recorded at Rs 176,270. 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.

Today Gold Price in Pakistan - 30 September 2023

City Gold Silver
Lahore PKR 205,600 PKR 2,450
Karachi PKR 205,600 PKR 2,450
Islamabad PKR 205,600 PKR 2,450
Peshawar PKR 205,600 PKR 2,450
Quetta PKR 205,600 PKR 2,450
Sialkot PKR 205,600 PKR 2,450
Attock PKR 205,600 PKR 2,450
Gujranwala PKR 205,600 PKR 2,450
Jehlum PKR 205,600 PKR 2,450
Multan PKR 205,600 PKR 2,450
Bahawalpur PKR 205,600 PKR 2,450
Gujrat PKR 205,600 PKR 2,450
Nawabshah PKR 205,600 PKR 2,450
Chakwal PKR 205,600 PKR 2,450
Hyderabad PKR 205,600 PKR 2,450
Nowshehra PKR 205,600 PKR 2,450
Sargodha PKR 205,600 PKR 2,450
Faisalabad PKR 205,600 PKR 2,450
Mirpur PKR 205,600 PKR 2,450


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