ISLAMABAD – The federal cabinet has proposed 15 percent increase in pensions of retired employees in the budget for next fiscal year 2024-25.
Prime Minister Shehbaz Sharif granted the approval in the cabinet meeting where Finance Minister Muhammad Aurangzeb briefed them on the budget.
The finance minister is expected to announce the budget in the National Assembly shortly with total outlay of Rs18.9 trillion.
The budget mainly focuses on revenue mobilization, economic stabilization and growth, reduction of non-development expenditures, job creation, and people-friendly policies for socioeconomic prosperity.
In light of revenue growth, the government has set the revenue collection target at over Rs12 trillion for the fiscal year 2024-25.
All relevant departments and ministries were involved in budget-related activities, including the budget presentation in Parliament and the launch of the Economic Survey.
Budget 2024-25: Govt announces up to 25 increase in salaries of employees
