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Salaries of federal employees likely to go by 15% in Budget 2024-25

03:04 PM | 18 May, 2024
Salaries of federal employees likely to go by 15% in Budget 2024-25
Source: File Photo

ISLAMABAD – The federal government is likely to increase an increase of 10 to 15 percent in salaries of its employees in the Budget 2024-25.

Reports said the pensions of the retired federal government employees would be increased by 10% in the upcoming budget.

The proposal to increase the funds under the Employees Old-Age Benefits Institution (EOBI) is also under consideration. Additionally, there is a possibility of introducing pension reforms to reduce the burden on the national treasury.

The federal government is deliberating on proposals to increase salaries of employees, taking into account IMF conditions, inflation, and other factors in the upcoming budget for the next fiscal year.

The federal government is likely to present a budget of Rs17 trillion on June 7.

There is a possibility that the federal budget for the fiscal year 2024-25, totaling more than 17 trillion rupees, will be presented in Parliament on June 7th. Approval will be sought in a special meeting of the federal cabinet scheduled before presenting the budget in Parliament.

The Ministry of Finance has stated that preparations for the federal budget of the upcoming fiscal year are underway, and consultations regarding budgeting are ongoing in light of Pakistan's recent IMF program review mission.

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Currency Rates in Pakistan - Pak Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 25 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 25, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.5 for buying and 280.65 for selling.

Euro's buying rate stands at 293.5 and selling rate is 297.2 while British Pound rate is 348.5 for buying, and 351.45 for selling.

UAE Dirham AED was at 75.05 and Saudi Riyal at 72.95.

Currency Rates in Pakistan

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.65
Euro EUR 293.5 297.2
UK Pound Sterling GBP 348.5 351.45
U.A.E Dirham AED 75.05 75.85
Saudi Riyal SAR 72.95 73.85
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.58 748.58
Canadian Dollar CAD 203 205
China Yuan CNY 38.35 38.75
Danish Krone DKK 39.91 40.31
Hong Kong Dollar HKD 35.67 36.02
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 907.74 916.74
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.38 172.38
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.26 731.26
Qatari Riyal QAR 76.5 77.2
Singapore Dollar SGD 72.95 73.85
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 311.53 314.03
Thai Bhat THB 7.58 7.73

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